Jul 20, 2026
In this episode of Perspectives, Escala Chief Investment Officer, Tracey McNaughton, explores why productivity has become the defining investment and economic challenge - and why getting it right could unlock stronger growth, lower inflation, higher living standards and a more durable bull market
(1:00) What do you think? What are you saying to clients?
(3:55) Those high expectations tend to be a feature of a mature cycle. Is that more the issue?
(5:03) The first was the Prime Minister's new AI strategy. The second was the debate around whether Australia's superannuation system should play a bigger role in funding nation-building projects.
(9:15) So perhaps the role of government isn't to direct capital. It's to create the conditions that attract it
(9:23) How do you think this will change how Australians choose to invest?
(13:03) If fewer investors purchase rental properties, there's also the possibility that rental supply becomes tighter, placing further upward pressure on rents.
(15:02) Tracey, listening to everything we've discussed over the past two weeks, it feels like all roads lead back to one issue. Productivity.