In this address to the National Press Club in Canberra, Business Council of Australia President Hugh Morgan explains how economies that support and encourage competitiveness are invariably those that are the most successful, and that since governments all over the world are in competition with each other, the primary role of government is to establish and foster the conditions for an economy that can compete effectively.

Mr Morgan says that while Australia’s current prosperity make it difficult to convince people of the need for further economic reforms, beneath the surface of strong growth a number of blockages and imbalances are emerging, which, if left unchecked, will become major roadblocks to future prosperity.