The Finance and Expenditure Committee called for submissions on the Budget Policy Statement 2020. We remain very supportive of the Wellbeing Budget and commend the Government’s ongoing commitment to this approach. We are also pleased to see the Budget Statement commentary on the planned additional infrastructure spending, which we welcome.
Our submission, lodged on 24 January 2020, focuses on additional detail that we consider is lacking in the Budget Statement, including clear and measurable targets covering short, medium and long-term milestones, as well as consideration of both the benefits to, and obligations placed on, businesses and employers. We also note that the Budget Statement does not include assessment of the retirement age and associated retirement saving settings, or the wider tax base implications and long-term challenges to the sustainability of the tax base.