Prices and Incomes Accord

The Prices and Incomes Accord (also known as The Accord, the ALP–ACTU Accord, or ACTU–Labor Accord) was a series of agreements between the Australian Labor Party (ALP) and the Australian Council of Trade Unions (ACTU), in effect from 1983 to 1996. Central to these agreements was an incomes policy to address the stagflation crisis by restraining wages. The unions agreed to limit their wage demands and assist in microeconomic reforms, and in exchange, the government provided a 'social wage' of welfare and tax cuts.

The Accord brought major changes to the Australian economy and continued throughout the entire period of the Hawke–Keating government. Two major outcomes were the reintroduction of universal public healthcare and the extension of superannuation coverage. The economic outcomes are difficult to gauge, but economic growth and inflation improved over this time period while trade union membership declined.