Leaders of Australia’s two largest companies say the Albanese government should use its fifth budget to implement genuinely ambitious tax reform and pro-growth policies while cutting spending on social benefits to set up the nation’s long-term prosperity.
Treasurer Jim Chalmers is preparing the May 12 federal budget amid sticky inflation, stagnant productivity, declining real wages and a decade of forecast deficits and debt that is poised to top $1 trillion within weeks.