Abstract
This paper seeks to outline the thinking behind a proposal contained in a recently released discussion paper by the Business Council of Australia (BCA). The BCA is Australia’s leading business body. It comprises the chief executive officers of most of Australia’s largest companies. The BCA’s paper was entitled Avoiding boom/bust: macroeconomic reform for a globalised economy (1999). A major section of the paper was devoted to exploring the idea of “re-engineering” fiscal policy.
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