The Australian Chamber of Commerce & Industry (ACCI) has used its pre-budget submission to call for comprehensive tax reform, including bringing forward legislated personal income tax cuts.
The ACCI also advocates a gradual reduction in the JobSeeker allowance to pre-COVID levels within six months, while it says the domestic economy will be vulnerable to further shocks for several years due to the impact of COVID-19:
As Labor and some Coalition MPs call for an increase to Newstart beyond the pre-pandemic rate of $40 a day, or about $560 a fortnight, ACCI said the JobSeeker payment should be phased out over stages and revert to the original Newstart payment.
