Speaking to the National Press Club on Tuesday, Scott Morrison explained his Government's JobMaker plan, a set of proposals designed to create jobs. 

Mr Morrison said one half of the plan was focused on improving skills for workers and funding these endeavours. 

The changes include:

  • "Better linking funding to actual forward looking skills needs, based on what businesses need."
  • "Simplifying the system, reducing distortions and achieving greater consistency between jurisdictions, and between VET and universities."
  • "Increasing funding and transparency and performance monitoring. Taxpayers, students and employers should know where the money is going."
  • "And better coordinate the subsidies, loans and other sources of funding, we’ve got to make the valuable support that is provided is going where it needs to go." 

Need somewhere to store cash and earn interest? The table below features introductory savings accounts with some of the highest interest rates on the market.

Provider

4001$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]More details
  • Bonus rate for the first 4 months from account opening
  • No account keeping fees
  • No minimum balance
Disclosure

High Interest Savings Account (<$250k)

  • Bonus rate for the first 4 months from account opening
  • No account keeping fees
  • No minimum balance
Disclosure
000$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]More details
  • Set up your Pay Cycle and connect your accounts from over 140 financial institutions.
  • Retrace your spending steps into categories with Spending Footprint.
  • No monthly or international fees on any of your transactions.
Disclosure

Save Account

  • Set up your Pay Cycle and connect your accounts from over 140 financial institutions.
  • Retrace your spending steps into categories with Spending Footprint.
  • No monthly or international fees on any of your transactions.
Disclosure
400$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]More details
  • Special offer: Savings Accelerator (Kick Starter offer).
  • For a limited time, new ING customers can get a bonus 0.70% p.a. on their savings rate on balances of $150,000 up to $500,000 for the first 4 months. T&Cs apply.
  • If your balance is over $500,000 (but less than $5 million) you will earn the ongoing variable rate of 4.7%
Disclosure

Savings Accelerator

  • Special offer: Savings Accelerator (Kick Starter offer).
  • For a limited time, new ING customers can get a bonus 0.70% p.a. on their savings rate on balances of $150,000 up to $500,000 for the first 4 months. T&Cs apply.
  • If your balance is over $500,000 (but less than $5 million) you will earn the ongoing variable rate of 4.7%
Disclosure
4000$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]More details
  • A high-interest online savings account with no monthly fees, easy withdrawals and award-winning digital banking
  • No withdrawal notice periods or interest rate penalties
  • Save up to 10% on eGift cards at over 50 retailers with Macquarie Marketplace
Disclosure

Savings Account

  • A high-interest online savings account with no monthly fees, easy withdrawals and award-winning digital banking
  • No withdrawal notice periods or interest rate penalties
  • Save up to 10% on eGift cards at over 50 retailers with Macquarie Marketplace
Disclosure
010000$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]More details
  • Deposit at least $1,000+ each month from an external source
  • Make 5 or more eligible transactions. Grow your savings balance each month
Disclosure

Savings Maximiser

  • Deposit at least $1,000+ each month from an external source
  • Make 5 or more eligible transactions. Grow your savings balance each month
Disclosure
02000$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]More details
Disclosure

Online Savings - Premium Saver

    Disclosure
    020000$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]More details

    HomeME Savings Account (<$100k)

      02001$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]More details

      Growth Saver

        01000$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]More details

        Virgin Money Boost Saver

          01001$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]More details

          Bonus Saver Account

            01000$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]More details

            Bonus Saver

              0100$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]More details

              mySaver

                000$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]More details

                Simple Saver

                  4001$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]More details

                  Netsave Account

                    3000$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]More details

                    Online Savings Account

                      3000$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]More details

                      HSBC Everyday Savings Account

                        0501$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]More details

                        Incentive Saver Account

                          4000.01$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]More details

                          Bankwest Easy Saver

                            0500$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]More details

                            Incentive Saver Account

                              02000$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]More details

                              Growth Saver Account

                                Important Information and Comparison Rate Warning

                                All products with a link to a product provider’s website have a commercial marketing relationship between us and these providers. These products may appear prominently and first within the search tables regardless of their attributes and may include products marked as promoted, featured or sponsored. The link to a product provider’s website will allow you to get more information or apply for the product. By de-selecting “Show online partners only” additional non-commercialised products may be displayed and re-sorted at the top of the table. For more information on how we’ve selected these “Sponsored”, “Featured” and “Promoted” products, the products we compare, how we make money, and other important information about our service, please click here. Rates correct as of December 26, 2024. View disclaimer.

                                Important Information and Comparison Rate Warning

                                The second half of the plan involved industrial relations, with the Government already reaching out to unions, employers, business groups and employee groups to discuss what needs to change to create more jobs. 

                                Mr Morrison said the Minister for Industrial Relations and Attorney-General Christian Porter would lead the process to chart a practical reform agenda. 

                                "The Minister will chair five working groups for discussion, negotiation and, hopefully, agreement to produce that JobMaker package in the following areas," Mr Morrison said. 

                                The plan is centred around five policy areas: 

                                • Award simplification
                                • Enterprise agreement making
                                • Casuals and fixed-term employees
                                • Compliance and enforcement
                                • Greenfields agreements for new enterprises 

                                The process is expected to run through to September, with the Prime Minister citing quick progress as a necessary factor for success. 

                                Labor Deputy Leader Richard Marles fronted the media in Canberra, and said workers should be suspicious of the Government's plan to use a recession to overhaul the industrial relations system. 

                                "The Prime Minister needs to be upfront about what it is that he is talking about exactly in terms of industrial relations reform," Mr Marles said.

                                "When he talks about simplifying awards, what does that mean in terms of the security of workers' employment?

                                "What does that mean about the rights that people have in their workplaces?

                                "All these questions remain very unopened. And when you look at the history of Liberal governments engaging in industrial relations reform, I think every Australian worker is completely justified in feeling a chill going down their spine."

                                Reopening the economy not the only objective 

                                CommSec Chief Economist Craig James said the Government believes in order to generate more jobs, then the focus must be on the businesses that create those jobs. 

                                "If businesses have access to a healthy supply of skilled labour and can operate in an efficient industrial relations system, then they have more chance of being successful and creating employment opportunities," Mr James said. 

                                Mr James said while the Government's principal aim was to get people back to work, another key objective was paying back the debt it had racked up. 

                                "The Prime Minister acknowledges that opening up the economy is harder than closing it down.

                                "But if the objective is to be achieved then obstacles must be cleared such as improving clunky and dysfunctional skills and industrial relations systems."