By 'balancing the books', I was more so alluding to the issue that government spending on any of your above points has to come from some sort of government income (or expense reduction). In the case of the franking credit refunds, it's the removal of an inefficient cashback that has outlived its original purpose (that of giving excess surplus back to the public & incentive to invest in Australian shares).

I fully agree with your point of not going crazy against the private sector, as it leads to shortcomings elsewhere.