Australia’s productivity has weakened in recent years, growing by an average of 1.1 per cent - below the long-run average of 1.5 per cent.
A new report by Deloitte, commissioned by SBS, argues that a stronger focus on social inclusion has the potential to lift the nation’s GDP by almost $12.7 billion a year.
But John O'Mahony, the author of a new report by Deloitte Access Economics, argues social inclusion is much more than simply combating racism.
"Social inclusion is about a lot more than just anti-discrimination legislation. It's giving people all of the opportunity to have the most prosperous life they can - that is access to health services, education services, participating in the community, and they can operate as a virtual circle: so once people have better education, they will have better employment prospects and of course that can lead to better health benefits and other things as well."
SBS Managing Director James Taylor says the report demonstrates that greater inclusivity is not only a public benefit but can also be a major economic opportunity.
"Australia has a well-earned reputation being a multicultural and inclusive society. A place where irrespective of who you are, where you're born or what you believe, you can participate. What this Deloitte report demonstrates in economic terms is that we can do better and if we can create teams and workplaces that are more diverse and more inclusive, there are economic benefits for all Australians, not just those who are being included."
Tune into SBS Hindi at 5 pm every day and follow us on Facebook and Twitter
