The Business Council of Australia says the rate cut provides welcome relief for businesses battling cost pressures, but says it will do little to improve productivity.

“If we want to supercharge our economy then we need to look at how our regulatory settings are
putting the handbrake on much needed investment,” says BCA Chief Exec Bran Black said.

“Australia must become a more competitive place in which to do business if we want to be a leading economy of the future.”