Business is fired up about the election of a majority coalition government that has promised to scrap both the carbon and mining taxes.

But Prime Minister-elect Tony Abbott insists he wants to take a calm and methodical approach to ditching Labor's "toxic" imposts.

National Australia Bank's August business survey showed confidence jumped to its highest level in over two years, scoring its sixth largest monthly increase since the series began in 1997.

While the survey was taken in the second last week of the five-week election campaign, opinion polls at the time showed a clear win to the coalition.

NAB group chief economic Alan Oster said while the interest rate cut in August and a lower Australian dollar would have lifted confidence, it didn't explain the size and breadth of the increase.

"While it is difficult to prove, it is likely that expectations of political change and a decisive result were very important," Mr Oster said.

Confidence strengthened across all industries in August with notably mining becoming less pessimistic on the prospect of the minerals resource rent tax (MRRT) being scrapped, along with expectations of improved export activity as better data emerges from China.

NAB's confidence index rose from minus three in July to plus six in August, with sentiment among mining companies surging from minus 24 to minus three.

However, Mr Abbott has made it clear that his new government is not going to rush to convene parliament to get its legislation through.

"We will move calmly, purposefully and methodically to implement our agenda," Mr Abbott told the Nine Network on Tuesday.

But he does expect the new government's mandate to be respected, whatever the final make-up of the parliament, particularly the upper house Senate.

It will be a particular issue for the Labor and its new leader when elected.

"Surely it's going to have to respect measures that are going to make it easier for the workers of Australia to have a job and to keep a job in prosperous businesses," he said.

"The trouble with the carbon tax and the mining tax, they are handbrakes on growth, they are handbrakes on investment and employment."

Still, while business confidence strengthened sharply, actual conditions remain subdued in August with forward orders suggesting little upturn in near-term activity.

The business conditions index rose just one point, from minus seven to minus six.

JP Morgan economist Ben Jarman said it is meaningless to talk about the sensation of confidence if it doesn't result in any change in real, measurable outcomes.

"On the evidence of today's NAB business survey, the signals on domestic growth performance still give us reason for caution," he said.

Separately, NAB expects Australian economic growth to slow to 2.3 per cent in 2013 - it was 2.6 per cent as of June.

Growth should then expand by 2.5 per cent in 2014, which NAB says will be consistent with an unemployment rate of 6.75 per cent by late 2014, compared to 5.7 per cent now.