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Terry McCrann notes that Australia’s GDP per capita grew by a very strong 2.7% in the year to June on the back of closed borders and minimal immigration.
McCrann adds that the Jobs & Skills Summit was a missed opportunity to rethink the ‘Big Australia’ model. Instead Australia has foolishly doubled down “back to the profitless growth of an ever bigger, still dumb, Australia”:
One figure in the GDP numbers really should be at the absolute centre of the ‘future of Australia policy debate’.
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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.
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