How Do Labour Policies Affect Australian Economy

A brief introduction of the market you have chosen and what its current labor policies are.

Australia, is known as a free-market democracy, they have recently recorded impressive economic process without going through a recession for over 25 years (Manager, 2016). They have abundant natural resources, where the economy has benefited from lasting entrepreneurial development facilitated by an effective system of government. They also have gained a well-functioning legal system, and has an independent bureaucracy.

Australia strives to be an attractive and dynamic investment destination. With a majority of all industries open to a foreign competition and has skilled workforce that is readily available. Australia is withdrawn from most areas of the market, and competition in sectors which include sectors where financial services have increased. Their debt has been increasing since the global financial crisis but remains substantially lower than most advance economies.

The labor polices in Australia are part of Australia’s oldest political party. The history is intertwined with the history of Australia’s democracy and labor movement. With the labor commitment is foreseen to have fairness at work, access to quality education no

One main concern is tax concessions, it is an important part of the system and encourages people to contribute to funding and preserve the savings until their own retirement. A tax concession is a special provision for a firm not to pay a tax that it would otherwise owe, it is provided by a local, state, or national government as an inducement to invest (Central, 2016). Australia will benefit from high income earners and over time will place an increase burden on the budget which is unfair and