Very quick Q from Trial papers (1 Viewer)

[tau281290]

Explain one policy the Australian govt could implement to overcome the skills shortage in the short term and one policy to overcome the skills shortage in the long term.

You can state as many policies as you can think of.

Is spending on education/skills program long term or short term?

 

[zammitm1]

spending on skills/education is long term bro, think about time lags in implementation and effect, also the years that it takes to churn out trained professionals.

 

[Glenjamin]

What will be a short term method to address the skill's shortage?

 

[zammitm1]

loosening of immigration laws to allow more skilled labour into the work force... hey its short term

 

[tau281290]

What else can you think of?

 

[lionking1191]

we had that in our trials as well

fiscal policy ie. spending) is generally regarded as medium term。 however welfare policies, commonly listed under fiscal policies is short term

 

[RohanZ]

Yep i had this question.

For short-term, to overcome the skills shortage, the govt can encourage immigration. The govt can offer temporary work visas to the skilled migrants in order to fill the labour demand of Australian firms and businesses. This will provide a short term remedy to any skills shortages.

For long term, to over come the skills shortage, the govt can implement workers' retraining schemes. This involves training unskilled labourers and the structurally unemployed and providing them with the skills that are in scarcity in the Aus labour market.

 

[shadyhaze]

the response they probably want is:

short term - macroeconomic reform: to deal with demand side issues relating to skill shortages and counter-cyclical

long term - microeconomic reform to deal with supply side issues

if i need to elaborate i shall

 

[munchiecrunchie]

you could also mention substitution of labour with capital equipment so that business supply can keep up with demand.

 

[vmoore]

loosening of immigration laws to allow more skilled labour into the work force... hey its short term

yes that's correct.
another short term policy is to change the composition of tax and superanuation to encourage elderly workers to reamin i nthe workforce and not retire.

long term - improve skills.