"It is a missed opportunity because it keeps the nation shackled to more years of deficits and a high cost structure that erodes business competitiveness and innovation," Australian Chamber of Commerce and Industry chief executive Peter Anderson said in a statement.Government revenue has been increasing every year since 2009-10. Tax receipts are forecast to rise 7.4 percent in the next fiscal year to AU$376 billion. But the government has struggled to rein in expenditure ever since its initial splurge of stimulus spending at the peak of the global financial crisis kept the economy out of recession.
Australia Gov't Forecasts $19.4 Billion Deficit
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