In addition to the removal of tariff barriers to trade, governments have attempted to improve productivity in the sector by encouraging research and development. This has been achieved through providing taxation credits to companies that undertake research and development expenditure.
Government policies to increase productivity in the manufacturing sector have incorporated removing subsidies and tariffs and encouraging investment in research and development. However, the pace of microeconomic reform in other sectors of the economy has a major impact on productivity improvements in manufacturing industries. This is due to the fact that many other sectors provide inputs to manufacturing industries. In order for manufacturing industries to achieve productivity improvements, reforms have to occur in other sectors.
Labour Markets
Labour is a major input into all sectors of the economy. In order for productivity improvements to be realised across all sectors, reform of labour market policies has been necessary. This process has been slow and at times confrontational. Unions used to negotiate awards on behalf of their members. These awards outlined conditions, duties and associated rates of pay. Enterprise bargaining is the process whereby employers negotiate these issues directly with their employees. The benefits are a more flexible labour force that is tailored to the needs of the business and of the workers within those businesses.
In addition, governments have focussed attention on the skills needs of the Australian workforce. In order to meet the needs of industry, on-the-job and more formal education and training programs have been encouraged.
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