The incomes policy
instead provides for flexibility in dealing with that matter,' the minister said.
In 1982, the Australian government adopted an incomes policy
(5), consisting of formal wages and prices policies, called the "Prices and Incomes Accord" to deal with excessive real wage cost levels, inflation and high unemployment (apparently also core problems in Greece at the start of the crisis), allegedly without reducing the living standards of Australians --under flexible nominal exchange rates.
The new strategy, called incomes policy
, involves direct government intervention in the setting of wages.
Rejecting the stringent incomes policy
imposed by James Callaghan's Labour government, workers from many different sectors of the economy--autoworkers and nurses, truck drivers and school cleaners, rubbish collectors and gravediggers--went on strike.
Uncertainty and the effects of costs on prices instate state intervention ('socialized' control of investment, and incomes policy
to 'regularize' the distributional conflict between wages and profits--and resultant political controversy over the likely efficacy of an expanded state role in economic management) as a standard part of the post-Keynesian worldview.
Basically, the stance is one of using macro instruments for sustainable growth, supplement this with an incomes policy
, maintain a fixed exchange rate and tariff levels, and consider nationalising certain key industries, including financial intermediaries.
An incomes policy
(and this was an implicit incomes policy
) without clear government support and trade-offs could not be expected to work.
Australian Institute of Superannuation Trustees CEO, Fiona Reynolds, said Tony Abbott needed to get his facts straight and focus on what really mattered to the Australian public about super and the nation's retirement incomes policy
A Brief History of Australian Retirement Incomes Policy
The shift to the Right is likely to continue on issues such as housing policy, where Labour will belatedly start to champion home ownership; on nationalisation, where accountability rather than public ownership will become the goal and even on incomes policy
, hitherto anathema to the Left.
Mitreva had served as Deputy Minister of Labor and Social Policy, a position she has held since August 2009, with particular responsibility for social security and incomes policy