Prime Minister Announces August Productivity Summit Amid Calls for Structural Reform

The Australian government will convene a national productivity summit in August, with Independent MP Allegra Spender and business leaders pressing for sweeping structural reforms to address chronic efficiency issues plaguing the economy.

Prime Minister Anthony Albanese announced the summit initiative yesterday as concerns mount over Australia's lagging productivity growth and business investment challenges. The August gathering represents the government's most significant attempt to tackle productivity constraints that have hampered economic growth for decades.

"I was really encouraged to see the government put this summit on the agenda," Spender told Sky News this morning. "But if it's going to be effective, it is actually going to have to tackle the hard reforms that we haven't in the past."

The productivity summit comes as businesses face mounting delays in government approvals, with some companies waiting 13 to 18 months for visa approvals and local development applications taking up to 200 days for approval, according to Spender's discussions with business leaders.

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