The Business Council of Australia submission to the 2001 budget process argues that federal government spending is already providing a more than adequate contribution to economic growth, and that there is no justification for further spending initiatives in the 2001–02 Budget.
The submission cautions against excessive spending or tax cuts at the expense of investing in the future economic wellbeing of all Australians, and calls for a plan to tackle the long-term fiscal issues facing the country, such as the ageing population.
It argues that, even though Australia’s economic report card makes for better reading than at any time since the 1960s, we can do still better if we are maintain and build on the strength of our economic fundamentals and maintain the pace of economic reform.