Economic future depends on tough decisions: Lowe

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THE head of the Reserve Bank has warned the nation’s economic future could be held back by Australian politicians and their inability to make tough decisions.

Speaking at leadership forum at the Australian National University in Canberra, Philip Lowe took a veiled swipe at the politicians in the nearby Federal Parliament.

Dr Lowe said while the immediate economic outlook for Australia was positive, the nation had to make hard policy decisions to keep that growth going.

“The positive news is that there is no shortage of good ideas,” he said.

“The not-so-positive news is a shortage of good ideas that can successfully negotiate the political process.”

Dr Lowe said the country has be cited from its natural resources.

But the nation had to invest in its people to safeguard its economic future.

“If we are going to grow strongly in the future, then that growth will be built just as much as much on the quality of our ideas as it is on the quality of our natural resources,” he said.



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