Australia’s future can be prosperous but this will depend on maintaining strong economic growth and an environment that supports businesses to do well. The actions, decisions and choices we make now will either support or inhibit Australia’s prospects.
Australia has experienced a very successful growth period and we continue to have many intrinsic strengths, but we are a small economy in a fiercely competitive global environment. We do many things well and lead the world in areas like mining, agriculture and various services industries. However, with a small local market we lack the scale and expertise needed to exploit opportunities in many sectors of our economy, particularly manufacturing.