ECONOMIC REALITIES, BUDGET CHOICES FOR A STRONG AUSTRALIA
In the immediate to medium term, MYEFO shows stronger growth and revenue forecasts underpin the forecast return to surplus. This includes an extra $8.6 billion in company taxes (which are forecast to reach $97 billion by 2020-21), and some anticipated pick-up in wages growth.
But long-awaited signs of business recovery, although promising, are uneven and remain hostage to external forces. These forces, which are largely outside our control could be positive, but cannot be relied on.
Read the Business Council’s roadmap to stronger economic growth and greater prosperity in Economic Realities, Budget Choices for a Strong Australia