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Chartered Accountants Australia and New Zealand has called on the government to deliver a "strategic and forward thinking" federal Budget next week, arguing that its focus on returning to surplus is a "red herring".
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CAANZ outlines Budget wish list
06 May 2015
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Broadly speaking, CAANZ has urged the government to consider two things in the Budget:
“We’re looking for the Government to join the dots between all the reviews that are in train, and to ensure that they are connected in a meaningful way,” CAANZ chief executive Lee White said.
“The second thing we’re expecting is for the Government to deliver plans for the medium to long term to foster our future prosperity."
Mr White emphasised the importance of longer term plans over quick fixes, playing down the negative impacts of a budget deficit.
“The Government’s focus on returning the deficit to surplus is a red herring. A budget deficit is appropriate in lean economic times; however, it must be accompanied by a credible plan to return to surplus in the medium term.
“Short-term cuts are only going to serve as a Band-aid, and they risk destabilising business and consumer confidence. The last thing we need is a pre-election Budget. We need a Budget that is strategic and forward thinking,” Mr White said.
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