Given that the economy is pretty fully employed, total investment levels are already high, the nation’s call on net capital inflow from abroad is over 6 per cent of our GDP and inflation is already 4 per cent, it is difficult to see any serious alternative to an adjustment of this nature.
Not many people have taken the chance to invite me to provide inspiration and uplift. I was therefore both surprised and flattered when Roytec, through my friend Kelvin, invited me to give this Graduation Address. Of course, I gladly accepted, largely because, as I am going to urge you later, you must always be prepared to venture beyond your comfort zone.