The Need for Productivity Growth

Business Council of Australia chief economist Melinda Cilento agreed that it would be unrealistic to catch up with the US at an aggregate level, but said that was why the Government needed to provide the right regulatory and tax environment. ‘If you have regulatory policies that are further away from productivity and innovation, not only do we not catch up, but the US gets further and further ahead,’ she said.  

From article titled ‘Keeping up with US Is Key to Future’ by Nassim Khadem, The Age, 9 March 2007, p. 2.