Business targets government's budget bottom line

Australia's largest business lobby group has issued a warning to the federal government, urging it to rein in spending in the May Budget. The Business Council of Australia says government spending is growing faster than the country can afford -- and if it isn't curbed, will mean major tax rises or brutal cuts to services in the future. But Labor has hit back at the Business Council, saying it's inconsistent to call for spending cuts while also advocating a tax break for big business.

Australia's 'big four' banks Source: AAP