Internal balance and structural change I would like to begin this morning by briefly summarising the broad economic outcomes in Australia since I first spoke at this Forum in March 2010. Since that time, output in the Australian economy has increased by 9 per cent. The number of people with jobs has risen by over half a million.
However, the degree to which the pickup represented deliberate choices by banks is unclear, as many households and businesses reportedly drew on previously committed lines of credit, and selling of loans in securitization markets was hampered by further deterioration in those markets.