The AFR View
Australia must not accept a low-growth future
The unambitious Intergenerational Report must not become the benchmark for this country’s growth prospects. Bold structural reform is needed.
Treasurer Jim Chalmers has backed Monday’s AFR View warning that the low-growth future forecast by the Treasury’s Intergenerational Report is unacceptable for a frontier, resource-rich and immigrant-receiving economy at the foot of Asia.
Dr Chalmers told day one of The Australian Financial Review Business Summit that the idea behind the report’s projections – which warn that Australia’s annual economic growth will slump to just 2.2 per cent in the next four decades compared with an average of 3.1 per cent in the previous four – was to send exactly the kind of “warning sign” he had read in our editorial.
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