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 restrict their wage demands, and in exchange, the government provided a 'social wage' of welfare and tax cuts.
The Accord brought major changes to Australian society and was a contentious issue.[1] It continued throughout the entire period of the Hawke–Keating government.