Treasurer Josh Frydenberg and Prime Minister Scott Morrison (Image: AAP/Lukas Coch)

Australia has a business investment problem.

The government's most recent forecast -- in MYEFO -- has business investment falling 8.5% this financial year and rising 5% -- a lower forecast than in last year's budget -- for 2021-22. The Reserve Bank, with more updated forecasts, sees investment falling only 2.5% this year and growing 6% next year.

In the first quarter of 2020-21, the Australian Bureau of Statistics says investment fell 3%; we'll find out next Thursday what happened in the December quarter when the next capital expenditure data -- for the first time including non-government sectors like health -- are released.