A strong Budget position is important as it gives governments capacity to deliver the services and public investments that maximise community value today and into the future.
This includes providing a sustainable social safety net for the most disadvantaged in society, and supporting productivity and income growth through efficient capacity-building public investments in human capital and infrastructure.
The Business Council’s submission to the Federal Government’s 2015-16 Budget called for a fundamental reset of the fiscal strategy and budget process to slow the growth trajectory of major spending areas and improve program delivery and effectiveness.
While a more efficient tax system is also needed to promote competitiveness and provide a stronger revenue base, continually increasing taxes to pay for spending growth would be self-defeating.
The BCA Secretariat contact for budget issues is Lisa Gropp, Chief Economist.