Over the last two years the Committee for Economic Development of Australia (CEDA) carried out a major project: a vision for the Australian economy and practical policies to attain that vision by the year 2000. One of the key goals was to halve the official unemployment rate. The results are outlined in this article. Emphasis is placed on a policy and incentive structure that is skewed in favour of exports, productive investment and savings, a more structurally efficient and flexible labour market, responsible aggregate wage outcomes and acceptance that growth is only sustainable if the short—term costs of structural reform are borne equitably.
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