A stronger New England economy
08 May 2018
Member for New England, Barnaby Joyce, said the Coalition Government is sticking to its plan to build a stronger economy to benefit all Australians.
“We are delivering tax relief with a focus on low and middle income earners, investing in safety boosting infrastructure and responsibly returning the budget to balance,” Mr Joyce said.
Our plan will:
- Deliver lower, fairer and simpler taxes to encourage and reward working Australians;
- Back businesses to invest and create more jobs, building on our legislated tax relief for small and medium enterprise, supporting businesses to compete globally, delivering infrastructure that industry and workers rely on; and targeting incentives to promote research, development and new technology;
- Guarantee the essential services that Australians rely on including record funding for hospitals and schools, a comprehensive approach to aged care so older Australians can live life to the full, and guaranteed funding for disability services;
- Keep Australians safe by strengthening security at airports and investing more in our intelligence and security service so they can respond to new and challenging threats. We will also protect our unique environment with smarter biosecurity systems and continue to safeguard our borders.
- Ensure the Government lives within its means with a forecast return to modest budget balance in 2019-20, increasing to a projected surplus of $11 billion in 2020-21; no longer borrowing to pay for essential services; and the lowest average real growth in payments of any Government in the last 50 years.
“Our tax relief plan will encourage and reward hard working Australians with 56,982 taxpayers in New England standing to benefit from the low and middle income tax relief in the upcoming 2018-19 financial year under our plan,” Mr Joyce said.
“A high school teacher on $75,000 in New England will have an extra $530 in their pocket from the Budget year onwards, with an extra $3,740 in their pocket over the first seven years of the tax plan.
“There is also great news for small businesses with the $20,000 instant asset write-off continuing for another year, helping small business invest in new equipment. More than 1,000 local businesses in New England have already benefitted from this popular small business measure that has now been extended. This is on top of legislated tax relief for small and medium businesses that are helping them to grow, create more jobs and pay higher wages.”
The $3.5 billion Roads of Strategic Importance program will upgrade key freight corridors in regional Australia, increasing productivity by connecting our major agricultural and resource areas with our cities and ports, and increasing road safety.
Among the benefits of the Government’s infrastructure investment for the New England are 2018-19 funding allocations of:
- $40 million for Scone Bypass ($65 million total Aust Govt commitment)
- $21.8 million for the Bolivia Hill Upgrade ($55 million total Aust Govt commitment)
- $3.5 million for Tamworth’s Jewry Street Bridge
- $2.5 million for Tenterfield Bypass design ($10 million total Aust Govt commitment)
“The Australian Government will also provide $345 million to the Bridges to Renewal Program from 2018-19 to 2021-22 with $1.6 million allocated for next financial year in the New England for projects like Middlebrook Bridge near Scone which was officially opened just last month.
“We are guaranteeing the essential services which New England families rely on, by increasing total health and hospitals funding by 30%, delivering a 50% average increase per student in fair, real needs based school funding over the decade, and more child care support to those families who need it most,” Mr Joyce said.
“On 2 July, our new child care system will come into place, with 4,482 local families in New England standing to benefit from our reforms.
“As part of the Government’s commitment to guaranteeing essential services, our More Choices for a Longer Life plan will help older New England residents live healthy and connected lives with increased financial and skills support and 14,000 more home care places.
“We are supporting the 30,833 people aged over 65 and their families in the New England to live longer, happier and healthier lives.
“Our plan for a stronger economy benefits all Australians. After record jobs growth, the proportion of working age Australians now dependent on welfare has fallen to 15.1 per cent - the lowest level in over twenty five years.
“We are also continuing to boost welfare compliance and targeting to help get welfare spending under control while ensuring everyone pays their fair share of tax.
“Our plan for a stronger economy means that Australians can plan for their future with confidence.”