A Budget that is good for Canberra and the nation


 

Senator for the ACT, Zed Seselja has welcomed the Turnbull Government’s 2016 Budget set to drive jobs and growth for our local communities. With increases in public service spending, tax cuts provided to small business and tax relief given to middle income earners there will be economic stimulation and growth in Canberra.

“This is a budget that will be good for our city,” Senator Seselja said today. 

“We are now seeing jobs growth in the public sector, jobs growth for contractors through departmental spending and jobs growth for the private sector showing that employment and confidence in the ACT is stronger than ever. 

“These measures on top of the ACT’s already low unemployment rate of 4.3%, is going to ensure economic growth in our city. 

“Education and Health funding for the ACT has also received a significant boost with increases of $66m and $95m respectively over the forward estimates.

“Unlike Labor, our education and health policies are fully funded. We are keeping spending down and living within our means. This is a budget that has the balance right. 

“The Turnbull Government is building on last year’s generous measures for small businesses ensuring they have the right conditions to innovate, prosper, and create new jobs. The measures include: 

  • Lowering the tax rate to 27.5 per cent from 1 July.
  • Eligibility for the new tax rate widened to include all businesses with a turnover of up to $10 million, up from $2 million currently.
  • Greater access to the instant asset write-off scheme. 

“These tax cuts help the small businesses that employ more than 66,000 people in our city and will ensure further investment in our local communities.

“The Turnbull Government will provide support for young job-seekers like never before with 120,000 placements in internships across the country. These will ensure that young Australians who have been in employment services trying to find work for 6 months or more will be given valuable work experience in real business. 

“We will also see over $600 million invested in upgrading Defence facilities in the ACT in the decade to 2025-26. A further approximately $2 billion will be invested in upgrading Canberra’s Defence facilities in the coming decades up to 2035-36.

“Defence is a major employer in the ACT with more than 16,000 Defence personnel based here, which has significant flow-on effects for the local economy. 

“Unlike Labor’s damaging tax changes that will cut existing property values and hurt hardworking mums and dads, the Turnbull Government’s 2016-17 Budget includes support for middle Australia through increasing the upper limit for middle income tax and ensuring stability in our investments and superannuation.  

“The economic plan we have announced tonight is about backing hard working Australians, creating jobs and opportunity to help drive our nation’s future,” Senator Seselja concluded.