Just two weeks before Josh Frydenberg hands over the budget, there is a growing wishlist for what it should contain.
But at this point, much of the treasurer’s own priorities would have been met.
A budget webinar hosted by the Australian Petroleum Production and Exploration Association called on the treasurer to look to the long term with an economy currently recovering.
Investment initiatives, productivity and tax reform were seen as essential.
APPEA chief executive Andrew McConville said the type of investments in last year’s budget were rather short-term and focused.
“It will only give you a short-term shot of sugar versus the long-term protein we need to boost the economy,” he said.
Australian Chamber of Commerce and Industry chief economist Ross Lambie agreed the economy is performing well above what was expected just a few months ago and the budget offers the possibility to build on that.
He said investments, especially non-mining investments – which have not been performing well for some time – will be essential.
“In the longer term, Australia’s prosperity will depend heavily on significant reforms to improve the productivity performance of the economy,” he said during the webinar.
“I don’t think reform is an option, I think reform is something the government has to go to.”
The Deputy Director of the Corporate Tax Association, Paul Suppree, used the cliché of “not wanting to spoil a crisis”.
“There is an opportunity here to fundamentally examine our tax system more broadly, and corporate tax in particular,” he said during the webinar.
He wants to see the tax composition shift more towards consumption-based taxes rather than income taxes.
He said a recent survey showed that out of 179 countries, only 14 countries have a corporate tax rate higher than Australia’s top rate of 30%.
“These 14 countries are essentially developing countries,” he said.
In a separate address, CUTA President Michele O’Neil called on the government to provide a budget for women with a series of measures to reduce the gender pay gap and improve safety.
“A better budget for women isn’t just a better budget for women – it’s better economic management, it’s better for men, it’s better for everyone,” she said. told the National Press Club.
Unions want free universal child care, an expanded 26-week paid parental leave program, 10 days of paid domestic violence leave and full implementation of the 55 recommendations of the Respect at Work report.
The Business Council of Australia has also supported an increase and better sharing of paid parental leave and improved childcare subsidies.
A government spokesperson said it was “absolutely determined” to support women’s participation in the labor force, noting that women’s participation had reached a record 61.8 percent under the coalition from 58.7 percent. percent under the Labor Party.
“We want it to continue to increase,” the spokesperson told AAP.
Meanwhile, advocates sent a joint letter to the prime minister calling for funding for dementia care.
Dementia Australia President Graeme Samuel said after 20 years of reviews and reports now is the time for the government to fund quality dementia care.
“We have written to the Prime Minister urgently to ensure that this unique opportunity to transform dementia care and the elderly care system as a whole is seized by the government,” said Professor Samuel.
“We expect a significant investment and transformation in Budget May that will make a profound difference in the experience of people living with dementia – now and for generations to come.”
Australian Associated Press
