NAB chief re­form call

Townsville Bulletin - - NEWS -

AUS­TRALIA badly needs to re­form its tax sys­tem and labour laws and cut red tape if it wants to main­tain cur­rent liv­ing stan­dards, the head of one of the coun­try’s largest banks has warned. Na­tional Aus­tralia Bank chief ex­ec­u­tive An­drew Thor­burn laid out the case for ur­gent ma­jor eco­nomic re­form in a speech in Syd­ney yesterday, say­ing 24 years of un­in­ter­rupted eco­nomic growth had bred com­pla­cency. “If we don’t change, our liv­ing stan­dards will in­evitably fall,” he told the TransTas­man Busi­ness Cir­cle lunch. He urged the coun­try to look to New Zealand for eco­nomic guid­ance.

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