Peter Costello (Higgins, Liberal Party, Treasurer) Share this | Hansard source

I know; it is funny, isn’t it, that he would listen to anything. If only he had listened to the answer yesterday he would have heard me read out the very survey to which he refers. I read this quote:

The link between the standards of employment protection legislation and aggregate unemployment is uncertain in theory and, in practice, highly dependent on specific national context. However, there is evidence that too strict legislation will hamper labour mobility, reduce the dynamic efficiency of the economy and restrain job creation.

I repeat, ‘There is evidence that too strict legislation will hamper labour mobility, reduce the dynamic efficiency of the economy and restrain job creation.’ That is precisely what the OECD said. If you want further reassurance on the point, let us go to the IMF. The IMF has repeatedly said that Australia’s industrial relations laws will enhance job creation and improve the economy. The IMF was so supportive of this government’s reform that—get a load of this—the ACTU despatched a delegation to Washington to complain. Sharan Burrow went across to warn the IMF.

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