A report by The Business Council of Australia warns that without stronger growth Australian living standards will decrease and the economy will be become increasingly vulnerable to market instability.
The report comes ahead of 2018 Federal Budget which will be announced next week.
The Council’s chief executive Jennifer Westacott stated she hopes to see some “hard calls” from the government, and recommends that the government plan for a growth rate of 3.5% and not content themselves with preserving the current rate of 2.5%.