BREAKINGTens of thousands of homes at risk as property developer goes under
An issue that has been eating away at the economy for decades could leave Australia lagging behind the rest of the developed world without drastic action from governments.
That’s who used a speech to a business summit to issue a stark warning about cratering <a href="https://bitcomme.com/government-criticises-productivity-commissions-report/” title=”Government criticises Productivity Commission's report”>productivity levels
He said local living standards, which have already started to decline in recent years, are at risk of falling well behind other advanced economies unless productivity growth kicks into gear.
“I spoke earlier this year about the risk that we were at ‘peak Australia’. That economic conditions were as good as it gets,” Irvine told NAB’s Business Summit on Monday.
“We were growing but without real reform we would soon hit the limits of what the economy could deliver.
“You see, when demand outpaces supply, inflation goes up and the RBA needs to raise rates to put a hand break on demand and reduce growth.
