I would like to take the opportunity today to update some of the things I said two years ago, but to do so in a way which focuses on medium-term developments. I will take as my starting point a comparison of economic growth rates of developed countries over the most recent decade (Table 1).
These figures from the OECD show that except for Ireland, which everyone in this audience would know is a very special case, the Australian growth rate has been higher than for any comparable OECD country.