AUSTRALIA'S CHIEF EMPLOYER BODY UNVEILS ANNUAL ECONOMIC WISHLIST.

CANBERRA, Jan 2 Asia Pulse - A Budget surplus, more jobs, personal tax reform and a national industrial relations system should top the government's New Year's resolutions list, Australia's chief employer body said today.

In its annual economic wishlist, the Australian Chamber of Commerce and Industry (ACCI) said the local economy remained strong against a background of unsettled international diplomacy.

But ACCI chief executive Peter Hendy said while defence and security were top priorities, it was important for the government to keep focussing on the business environment as well.

He said businesses hoped for a Budget in the black with limited growth in public spending in 2003-04, and a limit to safety net wage rises in line with high rates of employment growth.

But he said the youth unemployment rate remained unacceptably high, with the university and vocational education and training system in urgent need of reform.

"One things that (is) on the agenda immediately is that the government is in the process of putting together the next Budget and I think it's important to maintain a tight rein on the Budget," Mr Hendy said.

"Also very soon, the government will be announcing its higher education review and that's a ...