Each year at this time, our resident economist Professor Neville Norman of Melbourne University checks his forecasts against a panel of his peers in a major national survey. Usually he's more buoyant than most, but not this time. In this program, he spells out the reasons behind his gloomy predictions, and says things won't improve much before 2013. He believes the Federal Government has little chance of achieving its much-debated budget surplus on time, and warns business owners to prepare for a year in which competition will be intense and every opportunity to differentiate products and prices from competitors will need to be seized and followed through.
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