Mathias Cormann

[news jingle] The OECD is warning productivity and woeful competition are the root cause of the cost of living crisis in Australia.

Speaking to The Australian, the OECD Secretary General Mathias Cormann condemned what he sees as excessive levels of public spending.

The former Liberal Finance Minister claims targeting economic symptoms rather than underlying problems will lead to generational theft.

Australia is now one of the most expensive countries to live in, leading to calls for wholesale reforms across multiple sectors.

There are others, but, uh, Katie, definitely top of the pops.

I'm thinking back to when former Coalition Finance Minister Mathias Cormann was a vocal opponent against carbon pricing, then completely reversed course when he left politics and went to the OECD.

Do you think we're gonna see any change in opinions on particular policy issues when you leave politics?

I generally say what I believe, um, and make sure I don't say things I don't believe.

Look, I think it blindsided a lot of people, not just me.

I mean, you've heard Karen Andrews as Home Affairs Minister and Mathias Cormann as Fi-Finance Minister.

They never expected that their ministries would be, uh, also sworn in by Scott Morrison.

But this hurt you personally.

Others can see what's coming down the pipe, even if this government cannot.

Organisation for Economic Co-operation and Development Secretary-General Mathias Cormann recently warned creeping protectionism and a breakdown in the global rules-based order threatened to trigger a slow economic decline.

He noted Australia's labour productivity growth averaged just half a percent annually between 2010 and 2024, badly trailing the already low global average.

Commonwealth Bank Chief Executive Matt Coman echoed those concerns, calling on all jurisdictions to tighten their belts.

And I will say, an exclusive to you, but we're announcing this today, that we've also got some other additional great speakers.

Mathias Cormann, the Secretary General of the OECD, is coming back to Perth to also participate.

We also have John Butler, who will deliver... of John Butler Trio, who will deliver his, what I'm told is his first ever keynote address.

So we've got a great lineup.

Our priority when it comes to Europe and our engagement with the European Union is, of course, Australia-EU free trade agreement.

I noticed that Matthias Cormann, now the Secretary of the OECD, has called upon the Senate.

to give support to that agreement.

I think it is a really important step forward.