Australian Prime Minister Scott Morrison called for a truce between companies and workers in an effort to support the economy.
Even though Australia has not been greatly affected by the COVID pandemic in a direct way, the economy has suffered because of the social distancing measures, global trade disruptions, and a massive decline in consumer confidence and demand. Australia’s $1.2 trillion economy is enduring the worst performance in about three decades.
The PM said that the coronavirus was under control and the government’s $164+ billion stimulus package was winding down. Now the economy has to move independently. Morrison said:
“At some point you've
got to get your economy out of intensive care.”
The PM pledged to bring together unions and company chiefs
to negotiate industrial relations reform. The tensions between companies and
workers have intensified in recent years amid zero salary growth. However,
given that unemployment is about to hit 10% by the end of 2020, Morrison
suggested that it was the time for a conciliatory move. He said:
“We need people to get together and sort this stuff out. As I say, they've been caught in grooves for too long, and grooves going in parallel lines and not coming together. And that's why I'm hoping this process will achieve.”