Tammy Tyrrell (Tasmania, Independent) Share this | Hansard source

Productivity growth is essential. In the past 10 years, productivity grew by less than a quarter of its 60-year average. Our productivity is flatlining. This was happening even before the pandemic. We need to kickstart our economy and help the next generation thrive. The Productivity Commission was tasked with doing this last year by looking into the key areas to boost productivity across the economy in the fastest and cheapest way. They released those reports last year, almost six months ago, but the government hasn't even responded yet. Has there been any word from the Treasurer? No. If it's such a priority, where is the action?

You've been told by the experts how to fix our economy, but we don't know if you've even read the reports. This is a frustrating trend. You commission reports because you want answers to difficult questions, and then, when the experts give you advice, you ignore them. We know that the government has asked for more than 50 inquiry reports to begin, which they've totally ignored once the recommendations have been provided. What a waste of time and money for everyone. The Productivity Commission report last year reflected that the flavour of the month for the Treasurer was productivity. But, now that the report is out, he's seemingly moved on and is now talking about intergenerational equity. That's a great priority too, but we have to stop this merry-go-round. We need a real response from the government on productivity, and we needed it yesterday.

Another key part of growing our economy is research and development, or R&D. All experts and business professionals are telling me that a key ingredient to boosting our economy and productivity is research and development. It brings jobs, new innovations, new industries and new ways of working. We've seen it in Australia with wi-fi, GPS and other amazing recent innovations. But the government has stopped prioritising R&D. Last week I met with some amazing scientists, and they told me about the incredible work they do to make the world a better place and help the lives of Australians. But, again, the government don't seem to be listening. They hid behind last year's review into R&D, which, just like the productivity review, was done by experts with significant consultation. That R&D review report came out recently. I sure hope the government don't keep making the same mistakes. This time, they should actually read the report and take serious action. Otherwise, what is even the point?

We need to take science seriously in this country and listen to our experts more. We need to champion organisations that advocate for science to the community, like Beaker Street and their amazing annual Beaker Street Festival in Tassie. But it isn't just an attitude problem. R&D also has a serious funding issue in this country. When inflation is accounted for, the government's spending on R&D has been in massive decline for the last 20 years. We don't fund R&D properly, like other countries do overseas. And maybe the government is wondering, 'Well, how do they pay for all that innovation—all that R&D?' Well, they have a tax system that actually works. They properly tax their resources. We don't. A 25 per cent tax on gas exports would fund our growth. It would fund our innovation and our R&D. It would be put into the services that Australians need and not just sent offshore.

But, more broadly, we need a system that is fairer—a tax system that taxes people's income less so that they have more take-home pay. We should tax capital more, impacting the top end of town more and working Australians less, so that we still have enough government revenue to provide essential services. We should be taxing capital gains more, rather than discounting it for the millionaires that already own 10 houses. First-home buyers shouldn't be punished by the tax system; they should be supported. A fairer tax system will boost productivity, spur investment and help people put food on the table. It will also enable the government to spend more on R&D and on innovation and reward more Australians. So I urge the government: read and respond to your own reports that you commission. Prioritise productivity and innovation. Prioritise R? fund it and see our growth come alive. Fix our tax system so that gas companies pay their fair share. And lower the income tax for working Australians.