The income squeeze that's draining the economy

Australian companies will need new strategies to cope with lower income growth.

Australian chief executives and top managers are going to have to be a lot smarter in the next few years, especially since the yield boom has boosted share prices for many of them. Those looking for widespread rises in non-mining and non-housing corporate capital expenditure to drive the economy are being very optimistic.

Since the 1970s, national accounts data shows Australian incomes have grown steadily by about 2.3 per cent a year. There have been tough times but our per capita national income has always bounced back.

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