Share and Follow
Nationals senator Matt Canavan has responded to Treasurer Jim Chalmers’ productivity roundtable by announcing he will hold an alternative summit at Parliament House, arguing energy prices are a threat to productivity.
Announcing the upcoming economic meeting, Canavan was wearing a shirt that read: “Energy prices are the real productivity threat”, while he drank from a mug that read “I heart fossil fuels”.
Former Productivity Commission chair Gary Banks is set to give a speech, while the guest list includes some conservative-leaning economists.
Canavan’s forum will be open to the public, unlike the government’s closed-door meeting, which is underway.
The Queensland senator said Treasury’s productivity papers didn’t mention the cost of electricity.
“I’m ready for the prime minister to come down or for Jim [Chalmers] … to explain why they won’t explain to the Australian people why power prices have surged under their watch,” Canavan said.
“Up there at groupthink central, they’re not even discussing the issue. No-one is discussing the fact energy prices are the biggest hit to our nation’s productivity, the biggest hit to our nation’s wealth and prosperity, is the fact we’ve lost control of our energy market.”
At the time, AER said wholesale and network costs rose in most jurisdictions between 1 per cent and 11 per cent, and retail costs between 8 per cent and 35 per cent compared with last year.
At Chalmers’ summit, around 30 leaders from business, unions, and civil society have convened in Canberra for three days. The meeting is a key part of the government’s strategy to build national consensus around economic reform.
Chalmers has said the ideas discussed at the roundtable will inform “the next three budgets and beyond”. A number of topical and controversial ideas for reform are on the table, including major tax reform, deregulating artificial intelligence and a four-day work week.
Prime Minister Anthony Albanese has promised the government’s economic roundtable will deliver long-lasting change through consensus.
The first day of the roundtable focuses on building resilience.
Following the treasurer and prime minister’s opening addresses, Reserve Bank governor Michele Bullock delivered a presentation outlining Australia’s declining productivity performance.
— With reporting by the Australian Associated Press.
