Because a banker said it, the AFR reckons it must be true!
National Australia Bank chief executive Andrew Irvine has warned that the nation has hit “peak Australia” and will not grow unless productivity improves, as data revealed real wages have gone backwards for the first time in two years, intensifying the economic challenge facing the Albanese government.
As he delivered a near one-third jump in quarterly profit, Irvine warned that living standards would not improve without a lift in productivity, which has stagnated over the last decade.
