17 May 2011

AUSTRALIAN BUSINESS CHIEFS SAY A SURPLUS IS NOT THE HIGH PRIORITY THE COALITION SAYS


Kerry Stokes, Westfield Group's Steven Lowy and Westpac chief Gail Kelly rejected the need to be specific about getting to surplus in 2012-13.

''To commit to a particular date is not the best approach because … there are a lot of things that happen. They are independent of a government's ability to influence the budget outcome,'' the world does not work that way Mrs Kelly said.

The Coalitions insistence on reaching a surplus by 2013 is nonsensical.



Business chiefs said the issue wasn't to have a surplus or not,  because we know that this country in the next 10 years is going to be awash with so much money it can't even spend it.


Mr Lowy said Australia had a very low level of debt compared with other Western countries and a case could be argued for ''bigger investment'' now, not a reduction as the Coalition argues.

Ms Gillard appeared with the business leaders on the panel at an Australian Agenda UBS lunch in Sydney.

Mr Stokes said the carbon tax was ''a great way for redistributing wealth'' but it was ''not going to change power generation over night. 

Ms Gillard told the business lunch the government was determined to ''meet a resources boom with an opportunity boom'' and appealed for business to work with the government.

ITS NOT THE SURPLUS WE HAVE TO WORRY ABOUT ITS ABOUT AUSTRALIA BEING AWASH WITH MONEY OVER THE NEXT 10 YEARS
THE MINING AND COMMODITIES BOOM

HAVING A SURPLUS AT THE MOMENT IS NOT IMPORTANT!

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