Business leaders have called for an action plan for the economy focused on productivity improvements, saying Australia’s strength and resilience as an economy were likely to erode if major reforms were not started quickly.

The Business Council of Australia’s federal Budget Submission released today urges the federal government to commit to a program of action to reform Australia’s workplace relations, tax, infrastructure and regulation-making systems.

The submission also calls on the government to avoid commitments in the 2005–06 Budget that might inhibit these reforms being quickly progressed.

The news release can be read here and action plan can be download here.