Powered by MOMENTUM MEDIA
Powered by MOMENTUM MEDIA
SUBSCRIBE TO OUR NEWSLETTER SIGN UP
Powered by MOMENTUM MEDIA

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

State and Fed gov urged to work together to combat crisis

Staff Reporter 2 minute read

The Business Council of Australia (BCA) has called on all levels of Australian government to work together in order to tackle the worst aspects of the global recession.

In its budget submission ‘Budgeting for Revival’ the BCA has highlighted the importance of a coordinated response of federal, state and territory governments.

“The federal government recently issued a joint declaration with other G-20 nations to work together to restore global growth including taking immediate steps to use fiscal measures to stimulate domestic demands to rapid effect. A similar principal should apply with our federation,” BCA president Greg Gailey said yesterday.

“At the first COAG meeting of 2009 we implore them [the different levels of government] to make it a priority to decide how their tax and spending policies can work together...Government spending can limit the damage from the global economic downturn by boosting confidence and compensating for declining private sector spending and investment.”

The BCA recommends the government combines short and longer-term stimulus measures to boost the economy now and position it well for future growth.

Advertisement
Advertisement

It said it was appropriate for the federal budget to go into deficit “in a way that maximises Australia’s future productive capacity”.

COMMENT HERE

 

State and Fed gov urged to work together to combat crisis
default
TheAdviser logo
default

TODAY'S POLL

View results >

Who do you aggregate through?

Thank you for your vote, you can see the results here.

more from the adviser
court gavel ta Court rules against bank for ‘unfair’ loan terms

The Federal Court has declared a number of loan contracts entered...

APRA RBA ta RBA, APRA sing different tune on serviceability buffers

APRA chair Wayne Byres has dismissed the need for a cut to the bu...

loanapplication Remodelled FHB scheme cops backlash

From 1 July, all applications for the FHLDS will require a Notice...

FROM THE WEB