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

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

Savings Account (Amounts < $250k)

  • 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
000$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]More details
*Rate varies on savings amount
  • Deposit $500 per month to get bonus interest
  • 5.50% p.a. available on total savings up to $100k.
  • 5.00% p.a. applies to savings between $100k-250K.
  • Tiered bonus rates apply. (TMDs at ubank.com.au)
*Rate varies on savings amount

Save Account (<$100,000)

  • Deposit $500 per month to get bonus interest
  • 5.50% p.a. available on total savings up to $100k.
  • 5.00% p.a. applies to savings between $100k-250K.
  • Tiered bonus rates apply. (TMDs at ubank.com.au)
4000$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]More details
  • For deposit amounts $0 - $49,999
  • New ING personal savings customers receive an introductory bonus 0.50% p.a. variable kick starter rate for the first 4 months on balances up to $500,000.
  • Reverts to variable ongoing rate. T&Cs apply.

Savings Accelerator (Amounts < $50000)

  • For deposit amounts $0 - $49,999
  • New ING personal savings customers receive an introductory bonus 0.50% p.a. variable kick starter rate for the first 4 months on balances up to $500,000.
  • Reverts to variable ongoing rate. T&Cs apply.
010000$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

Savings Maximiser (<$100k)

  • Deposit at least $1,000+ each month from an external source
  • Make 5 or more eligible transactions
  • Grow your savings balance each month
05001$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]More details

Goal Saver

    050$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]More details

    Young Saver Account

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

      Smart Saver Account (Under 25)

        00.011$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]More details

        Reward Saver Account($0-$100k)

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

          Save up

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

            Bonus Saver (<$1 Million)

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

              ANZ Save

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

                Bonus Saver Account (Amounts < $100k)

                  5000$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]More details

                  NetBank Saver

                    00.010$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]More details

                    Life (< 30 years) (Monthly deposit)

                      010000$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]More details

                      Boost Saver

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

                        HomeME Savings Account ($0 - $100,000)

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

                          Growth Saver ($1 - $25k)

                            010000$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]More details
                            For customers aged 14-35 years
                            For customers aged 14-35 years

                            Future Saver Account ( < $50k)

                              0201$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]More details

                              Reward Saver Kick Start (Amounts ≤ $1m)

                                010000$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]More details

                                Saver Account (<$250k)

                                  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 July 27, 2024. View disclaimer.

                                  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."