Australia's top bosses believe Tony Abbott's government has been given a clear mandate that should be respected by the parliament.
With the make-up of the Senate after Saturday's federal election yet to be decided, Business Council of Australia (BCA) president Tony Shepherd says the upper house has a responsibility to act in the long-term national interest.
"It's time to stop politicking," Mr Shepherd said in a statement on Sunday.
The BCA, which represents the nation's top 100 CEOs, says the incoming government must take decisive action to repair the budget, make the economy more flexible and reduce the cost of doing business, while continuing to invest in skills.
The coalition's planned Commission of Audit provides the best chance to get the budget back into a sustainable surplus while providing for an ageing population, rising health costs, education and infrastructure, Mr Shepherd said.
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"Business is looking for urgent action to unwind policies that have hurt our competitiveness and to begin the long process of structural reform and planning that will position our economy and living standards for the future."
Retailers hope a majority government will give them some "breathing room" under the coalition's small business policies.
Australian Retailers Association executive director Russell Zimmerman said the coalition made commitments to deal with macro-economic problems in its first term of government, while putting significant issues under review allowing longer term reform.
These include workplace relations flexibility and reform, and taxation reform including a full review on tax to include the GST allowing the abolition of inefficient taxes.
"We have every hope that with the new majority Abbott government supporting retail and business, retailers and consumers alike will be able to enjoy a heightened sense of confidence and stability," Mr Zimmerman said.
The National Farmers' Federation president Duncan Fraser said the need for agriculture to be reprioritised on the national agenda remains as strong as ever.
