Yesterday, Bill Shorten as Commonwealth Minister for Employment and Workplace Relations, Financial Services and Superannuation announced a review of the Fair Work Act. This act governs industrial relations in Australia.
The review was foreshadowed at the time the legislation was originally introduced and will be conducted by Reserve Bank Board Member John Edwards, former Federal Court Judge, the Honourable Michael Moore and noted legal and workplace relations academic Professor Ron McCallum AO, the Minister for Employment and Workplace Relations. If you follow the above link, you will find the terms of reference of the review.
In an opinion piece in today's National Times, former Treasurer Peter Costello takes a swipe at Europe over their failure to follow Australia's earlier industrial relations lead. I think that he is probably right in that lack of labour market flexibility has impeded structural adjustment within Europe. However, it's not as clear cut as that.
I normally don't comment on industrial relations issues as such because I lack specialist expertise. I am also not especially interested in a day to day sense. Still, at some point it might be worthwhile providing a non-rigorous historical overview of the broad issues involved.