In response to Treasurer Wayne Swan’s invitation to submit ideas for the new Government’s first budget, four members of the CPD prepared a submission based on the Centre’s research and ideas.
1) Fiscal policy focused on building Australia’s
net public worth
2) Shifting the balance of taxation and financial incentives to reward ‘goods’ and deter ‘bads’
3) Sound pricing of natural resources
4) Avoiding handouts, subsidies or rebates which increase purchasing power without addressing supply constraints
5) Investment for the long term, not just the next term.