Every Australian would be more than $70,000 wealthier by 2025 and the nation would rise to a ranking of third richest in the developed world – but only if important reforms to the economy are implemented.

Releasing the research report on the eve of the first majority Senate in 20 years, the BCA has urged all political parties to work constructively to achieve the changes needed to lock in prosperity for all Australians in the long term.

The report, Locking in or Losing Prosperity: Australia’s Choice, demonstrates that economic reform has had a major positive impact on the lives and opportunities for average Australians over the past 20 years.

View the full news release here or download the report here.