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The nation's peak business and industry groups have united to warn Prime Minister Tony Abbott's retreat on fixing the budget will lead to "economic despair" for Australia.
And in a blunt rebuke to serving members of Parliament, the so-called Group of Nine has credited the nation's 25 years of uninterrupted economic growth to previous generations of "courageous business and political leaders" who championed difficult reforms.
"Today, our leaders must stand on the shoulders of these reform giants and ensure our living standards remain among the highest in the world," the group said in a rare, strongly worded statement.
"Past giants of economic reform did what was right for the long-term benefit of Australia and not because it was politically expedient – it rarely ever was."
The Group of Nine includes the Australian Chamber of Commerce, Business Council of Australia, Australian Industry Group, Australian Food and Grocery Council, National Farmers Federation, Property Council of Australia and Minerals Council of Australia.
Mr Abbott has promised to deliver a "dull" and "routine" budget after key measures failed to pass the Senate. The government has since conceded the budget contained major unexpected policy changes, including a plan to deregulate universities and introduce a $7 GP co-payment.
The government's inability to convince the public and Senate of the need for the changes contributed to an attempt by Liberal MPs to remove Mr Abbott from office, which in turn led the Prime Minister to dump many of the budget's controversial savings measures.
Treasurer Joe Hockey has subsequently told colleagues he plans to deliver a budget surplus "as soon as possible", which the free market think tank and supporter of the Coalition, the Institute of Public Affairs, has said amounts to "never in this lifetime".
The Group of Nine statement said Australia cannot afford to continue mortgaging the nation's future "on the questionable assumption" that the budget might be fixed in the "never-never".
"There is no escaping that reform is hard and often unpopular in the short-term, but Australians are vastly better off for the actions of a previous generation of leaders. Our message to today's leaders is simple: governing is not just the responsibility of government, it is the duty of all members of Parliament, and we must stand on the shoulders of reform giants before it is too late."
Australian Chamber of Commerce and Industry chief executive Kate Carnell said Mr Abbott's pledge of a dull budget had "sent a level of concern" through the business community.
"We accept that you can't fix the budget in year one, two or three, we accept this has got to be a medium- to long-term effort, but if you don't start the process with an ongoing plan, we're going to be delivering a quality of life to our children and grandchildren that's worse than what our parents delivered to us," Ms Carnell said.
"I think that's unacceptable."
Ms Carnell called for tax reform and said Australia's reliance on personal income taxes was too high. She pointed to the recent debate over the tax white paper in which both sides had ruled out any changes to the Goods and Services Tax "by morning tea" as an example of the reform malaise.
Shadow treasurer Chris Bowen vowed Labor would always fight for fairness, despite the business groups complaining that the alternative government's economic focus appeared to be limited to the one word.
"We'll always fight for fairness," Mr Bowen said. Mr Bowen blamed the government for talking down the economy.
"It's the government's dishonesty and incompetence that is hurting Australians and the economy."
Comment is being sought from the Abbott government.
