Captains of industry, unions sit at economic roundtable
Trade unionists, business leaders and welfare advocates are among the confirmed guests for the federal government's economic summit.
August's productivity roundtable will include ACTU secretary Sally McManus, Business Council of Australia chief executive Bran Black, Australian Council of Social Service head Cassandra Goldie along with productivity commissioner Danielle Wood.
Australian Chamber of Commerce and Industry chief executive Andrew McKellar and Australian Industry Group head Innes Willox are also confirmed, as is ACTU president Michele O'Neil and Council of Small Business Organisations of Australia chair Matthew Addison.
The summit will look to find ways to boost flagging levels of productivity in the economy.
"Each participant will play an important role in helping to shape our national reform priorities to boost productivity, strengthen our resilience and improve budget sustainability," Treasurer Jim Chalmers said.
"This initial group includes leading voices from business, unions, the community sector and our key economic institutions.
"This is a representative group that we're asking to provide ideas and build and advance consensus around them."
It comes after the treasurer extended an invitation earlier in the week to opposition counterpart Ted O'Brien.
The summit will be held over three days in Canberra.
Dr Chalmers said the roundtable would include opportunities for state and territory representatives to contribute, as well as those on the cross bench in federal parliament.
"More invitations will be issued in tranches and in due course as the agenda takes shape," he said.
"We will bring additional stakeholders, experts and representative groups to the roundtable, including for specific days, sessions and topics."
Members of the public are also urged to offer ideas, with submissions open until late July.
"We welcome proposals to improve productivity, build economic resilience in the face of global uncertainty, and strengthen budget sustainability," Dr Chalmers said.
The ideas would need to meet criteria including being in the national interest, be positive for the federal, as well as being specific.
Experts are concerned about Australia's lagging growth in productivity - a key economic measure of efficiency and long-term driver of improved living standards.
The Business Council's chief executive said he looked forward to providing practical solutions the productivity challenge.
"Productivity growth is the best way to sustainably lift living standards for all Australians, which is why it is critical that there is constructive engagement between all stakeholders," Mr Black said.
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