Australian press: IMF says Australian living standards are under threat

Author: Eamonn Sheridan | Category: News

In the Australian Financial Review today - the IMF is sending an economic team to Australia to examine the risks posed by property speculation and record-high household debt

As part of a broad health check-up of the economy

The IMF's mission chief for Australia, who will lead the trip next month, James Daniel, said unless tax reform was enacted, Australians' living standards were under threat from slower economic growth and lacklustre productivity as the resources boom ends

  • Household debt-to-income ratio has risen to an all-time high of 153.8 per cent, making Australians among the most leveraged people in the world, behind only Denmark, the Netherlands, Ireland and Switzerland, according to the most recent figures from the OECD

More at the Australian Financial Review (gated): IMF to probe Australia's record property and debt levels

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