this helps a positive forecast

looks like we're not the only ones talking up the future. Cut and paste of the Treasurers comments at the Summit.

Mr Swan said the major headwinds for the economy were the rise of China and India on the global stage - as well as an ageing population and climate change.

"Associated with that is a once-in-a-generation commodities boom that has seen our terms of trade hit a 50-year high," Mr Swan said.

"The recent contract prices for coal and iron ore suggest there is much more to come, so our terms of trade are likely to increase more in the coming year than they have in any year since the boom began."

Economists say massive increases are being agreed on for bulk commodity contract prices - coking coal in excess of 200 per cent, thermal coal up 125 per cent and iron ore up 71 per cent - which will come on stream in coming quarters.