The 2014 Budget has been variously celebrated and reviled as a “budget for corporate Australia”. But this assessment is based on the premise that corporate tax cuts and infrastructure spending will provide the major source of future growth and competitiveness in the aftermath of the commodity prices boom.
What if this premise is wrong? What if the evidence shows that well targeted government programs to promote science, technology and innovation are a more effective mechanism for creating long-term growth and jobs? In this case, we may be witness to one of the larger public policy mistakes of recent times, with serious implications for the structure and performance of the Australian economy.
Thursday, 15 May 2014
Business may not be a long term winner from this budget
In Corporate Australia wasn’t really the budget winner after all Roy Green, Dean of UTS Business School, doesn't think this budget was very good for business after all: