Weekly column from Council Courier e-newsletter by CEO Greg Hallam, Friday 9 September 2016.
I was fortunate this week to sit next to Productivity Commission Chair Peter Harris AO at a Committee for the Economic Development of Australia boardroom luncheon before he spoke to gathering on the topic of digital disruption.
We are both graduates of the University of Queensland’s School of Economics, but that's where the comparison ends as Peter is a living treasure. His fundamental message was that without productivity growth we are doomed to a slow decline in living standards. Think about the impact of no real wages growth over the past five years and you have the picture – fade to grey.
He was very clear that political leadership can drive productivity, citing the Hawke/Keating/Howard years. And he was equally clear that the political debate had sadly turned from how to grow the national economic pie to squabbling over how it is carved. While he did not say it, I was reminded of the famous economic quote - you can't redistribute poverty.
His parting message was to quote probably the world’s greatest living economist, the American Paul Krugman, in respect of future prosperity and economic growth. “In the end productivity growth isn't everything, but it's almost everything".
Folks, standing still on improving productivity is actually going backwards. Forwards and onwards is the only way to a better future.
This week’s annual Local Government Managers Association conference in the Douglas Shire was a great chance to have long and meaningful chats with council CEOs and others crucial to the continued robust health of local government in Queensland. Thanks for your honesty, and your views and suggestions have been taken on board.