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The Business Council of Australia (BCA) is clearly not satisfied with Tuesday’s federal budget, claiming it does not do enough to lift business investment from 30-year lows:
“The pace of economic growth at 1.5 per cent next year is way below our potential and improves only to a meagre 2.5 per cent at the end of the forward estimates.
“It is now time to pull out all stops to drive productivity, innovation, dynamism and job creation. Key to this will be lifting investment off a 30-year low to drive economic growth.
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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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