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Australian Chamber Federal Budget Submission

14 February 2019

The Australian Chamber of Commerce and Industry has recently lodged its 2019-20 Pre-Budget Submission with the Federal Government.

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The Australian Chamber of Commerce and Industry has recently lodged its 2019-20 Pre-Budget Submission with the Federal Government. The Federal Budget is expected to be handed down on 2 April 2019, ahead of an election in May.

The Victorian Chamber has worked closely with the Australian Chamber to ensure that the submission reflects the priorities of Victorian businesses.

The submission highlights that while the Australian economy has performed well across a range of measures, including GDP and employment growth over the past year, a number of challenges remain.

Weaker investment and private consumption growth, as well as slowing Chinese growth impacting on demand for Australia’s exports, may weigh heavily on economic growth in 2019.

While the Budget is forecast to be in surplus in 2019-20, there is still a way to go to reduce Government debt to more comfortable levels.

To respond to these challenges, the submission highlights four key issues that need to be addressed in the budget:

  1. Reduce Government spending
  2. Improve skills development and help more young people into work
  3. Capitalise on free-trade agreements
  4. Reduce ASIC fees for small business

To find out more, the full submission is available here.

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