8 Oct 2010

$1 million productivity fund launched

7:23 am on 8 October 2010

The Government has launched a new fund in an effort to help companies become more productive and boost economic growth.

The high performance working initiative will receive $1 million per year, to pay for specialist business consultants to help firms lift their performance.

The Department of Labour is still working out exactly how the new fund will work, but it expects to call for expressions of interest from potential providers next month.

Business groups have welcomed the new initiative.

Council of Trade Unions secretary Peter Conway says productivity is an extremely important issue for the country to tackle.

He says $1 million of funding is a good start in tough financial times, but he hopes more may be made available if the policy proves successful.