SHOULD YOUR BUSINESS BE MAKING A PRE-BUDGET SUBMISSION?

We are once again on the road to the Budget, with the Assistant Treasurer, the Hon Michael Sukkar MP announcing on Monday that Pre-Budget Submissions for the 2020-21 Budget are open now and are scheduled to close on 20 December 2019.

The start of the Pre-Budget Submission process typically coincides with the commencement of the Expenditure Review Committee’s budgetary process for the 2020-21 Budget.

During this period, the Government will likely receive a large number of Budget submissions. This means that if your business is looking to make a submission, you and your team will have to take into account a number of key considerations to ensure that your submission stands out from the rest.

At Nexus Public Affairs, we have guided many of our clients through what can be the daunting process of formulating an effective and appealing Budget submission. We understand the complexities of the political landscape and have the relationships with key stakeholders to ensure that your businesses Budget submission not only aligns with your business’ objectives and values but is also aligned with the priorities of the Government of the day.

One of the things that we stress to our clients, especially when engaging in the Budget submission process is the need to understand the political context that surrounds the Government of the day and how this may affect their decision making when it comes to what does and does not make the Budget.

For example, the press release announcing the opening of Pre-Budget Submissions outlined that the Government aimed to ‘continue with this discipline [in budget management]’ but also aimed to reflect its ‘plan for stronger economy’. This may be viewed as an indication that the Government may continue its trend of spending but only if there are appropriate savings to offset it.

With this context, it will ensure that any initiatives that you and your business may wish to advocate for have a level of political realism and will possibly make them more appealing to the Government.

Although a Budget submission must be politically realistic it must also clearly reflect the values of your company and integrate seamlessly with your existing public affairs strategy. This will ensure that any messaging that your company attempts to execute through the budget submission process is consistent with the existing engagement you may have had with key stakeholders.

If your business or organisation requires any assistance in formulating a pre-Budget submission for the 2020-21 Budget or a wider public affairs strategy, please don’t hesitate to contact Richard Brooks or Sarah Cullens from the Nexus team.