Forgotten Australians 'falling behind'

Many Australians feel they are falling behind despite the country's economic success and reforms are needed to reverse the trend, according to a new report.

Australia's "forgotten people" are failing to benefit from the nation's economic growth and risk falling further behind if drastic action isn't taken, a new report warns.

Prominent businessman Tony Shepherd is spearheading a review into shoring up Australia's future through incentivising taxes, accountable government, affordable energy, open trade and an imaginative and creative market.

"Change can only be achieved if the community understands the problems and accepts the solutions," Mr Shepherd said on Monday, warning of declining jobs, low wage growth and unaffordable energy if the country fails to act.