Towards Fiscal Repair
A pathway back to surplus
The BCA submission calls on the government to set out a sensible and credible pathway back to surplus, along with a refreshed fiscal strategy.
The Business Council of Australia released its Budget Submission 2013–14: Towards Fiscal Repair using analysis by Deloitte Access Economics' Risks around Australia's Fiscal Position. It examines the impact of government policy decisions and approach to spending in recent years and over the forward estimates and beyond.
Visit the BCA website for more information and to download the full report 'Budget Submission 2013-14: Towards Fiscal Repair'.
The BCA submission argues that the government’s execution of its fiscal strategy is not working and needs a major rethink. It calls on the government to set out a sensible and credible pathway back to surplus, along with a refreshed fiscal strategy, including by:
- Undertaking an independent review of the size, scope and efficiency of government
- Committing to a refreshed set of fiscal rules that place a hard cap on the size of government, build capacity to recharge fiscal readiness (to allow us to deal with the next major economic shock) and begin to provision for intergenerational pressures
- Maintaining a focus on measures to improve productive capacity including through infrastructure investment, deregulation and measures to lift skills and encourage innovation
- Developing a blueprint for long-term comprehensive tax reform.