The Business Council of Australia (BCA) has made its pre-budget submission to Treasury, labelling it as a ‘reclaiming our competitiveness’ submission.
Amongst other things, the BCA is calling on the government to cap real expenditure growth at an annual 2%, adopt a single payroll tax system, and cut regulation and spending.
With Australia falling from fourth to 19th place on world global competitiveness rankings since 2004, the BCA is claiming that Australia’s “quality of life” is at stake if the government does not address stagnant productivity and business investment by implementing meaningful economic reforms.
