How do we make the Lucky Country even luckier? Our challenges are many and include halting the decline in per capita living standards, along with the massive erosion in housing affordability. Simultaneously, we need to manage the net-zero transition and other long-term fiscal challenges.

One obvious way to kick-start growth is to direct every lever of policy and every spare dollar of public spending towards productivity and capital deepening. At the same time, we need to observe the wisdom of the late, great Charlie Munger – that incentives matter.