By business editor Peter Ryan, Pat McGrath and staff Business groups are becoming increasingly wary about talk of deep budget cuts and of a temporary debt tax. The Australian Industry Group says such reductions in household disposable income could dent fragile consumer confidence and spending. Meanwhile, the Chamber of Commerce and Industry says "a levy is a tax", and the broken commitment for no new taxes is an "unwelcome surprise" from a government that promised "no surprises". Both business groups argue that, if short term cuts are really necessary, the Federal Government's plan for a boosted parental leave scheme should be one policy facing the axe. More » |
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