The AFR View
The treasurer must ask what he can do for business
Jim Chalmers is asking business to dig Australia’s economy out of the hole. But he also needs to say what he is going to do to help businesses invest and lift the nation’s embarrassingly poor productivity.
McKinsey has laid bare Australia’s great stagnation that has resulted in zero productivity growth since 2016. The global management consultancy’s report on Australia’s severe productivity problem is an important contribution to the debate about reviving Australia’s stalled economy.
It brings together the key facts about the policy and political failures that have led to Australia’s productivity performance ranking 30th out of 35 OECD countries across the past eight years.
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