Labor slashes Morrison government’s ‘unrealistic’ productivity forecasts

Treasurer Jim Chalmers said Australians would get real talk' from his government about the country's positioning

• Productivity in Australia is growing at its slowest pace in 60 years
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The Albanese government has slashed the forecast of future gains in national productivity, saying the Coalition had relied on unrealistic predictions that hoped no one would notice".

The move cuts the estimate for future annual productivity growth by a fifth, from 1.5% to 1.2%. The revised forecast is in line with the average over the past 20 years and could lop billions of dollars off the size of future economic output.