The federal government has been warned by a peak business body that it needs major economic reform to fund key government services.
The Business Council of Australia has today released a report called Seizing the Moment which suggests that the future of Medicare, NDIS, aged care and defence are at threat in the budgets current state.
The report comes following revelations that Australia’s population will age rapidly over the next four decades.
Business Council of Australia Chief Executive, Jennifer Westacott told the ABC we risk being a generation that leaves the next generation in a worse state.
The Business Council is proposing to lower company tax, raise the GST and remove regulation to boost the renewables transition.