BUDGET MEDIA RELEASE - NSW

08-May-2018 8:24 PM

The Turnbull Government is sticking to our plan to build a stronger economy to benefit all Australians.

“Under the Government’s economic plan record jobs are being created, investment is rising and the budget is strengthening.  This means that we can guarantee the essential services Australians rely on,” Minister for Defence and Senator for New South Wales the Hon Marise Payne said.

The Government’s plan will:

•       Encourage and reward working Australians with lower, fairer and simpler taxes, starting with low and middle income earners;

–      The Government’s income tax relief will benefit 10 million Australians next year alone, with 4.4 million Australians receiving the maximum relief of $530 per year. Over 3.1 million working Australians living in NSW stand to benefit from this tax relief next year.

•       Back businesses to invest and create more jobs, building on our legislated tax cuts 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;

–      Our plan for a stronger economy will support more jobs for New South Wales families and their children, and set New South Wales up for the future. Already in New South Wales there are 366,300 more people in work since the Coalition was elected.

–      Our rolling $75 billion transport infrastructure plan will connect our nation, reduce congestion, help get goods to market, and keep our roads safe. The Commonwealth is working with New South Wales to provide $23.7 billion for vital infrastructure, including $1.5 billion for new major projects, such as:

·           $971 million for the Pacific Highway Coffs Harbour Bypass, which will reduce travel times through bypassing 12 sets of traffic lights and improve safety, and is expected to create over 10,000 jobs; and

·           $400 million for the Port Botany Rail Line between Mascot and Botany and building a passing loop at Cabramatta, increasing capacity and encouraging freight to shift from road to rail, reducing congestion, improving safety and creating 150 jobs during construction;

·           $155 million for Nowra Bridge, cutting travel time for the 50,000 vehicles that cross the River each day, easing congestion and improving freight movement in the region, and expected to create around 300 jobs;

·           $4.2 billion from the sale of Snowy Hydro to be reinvested in productive infrastructure in the State;

·           $100 million as part of the Roads of Strategic Importance initiative to further upgrade the Barton Highway corridor, benefitting both NSW and the ACT, building on our existing commitment of $50 million towards the Barton Highway; and

·           A commitment to equal partnership with the NSW Government to fund the first stage of the North South Rail Link in Western Sydney, with up to $50 million towards the business case to support the delivery of the first stage.

•       Guarantee the essential services that Australians rely on including record funding for hospitals and schools, a comprehensive approach to aged care so older Australians to live healthier, more independent and safer lives, and guaranteed funding for disability services;

–      Under the fully funded hospitals agreement, public hospitals in New South Wales will receive $39.5 billion over the five years to 2024-25, delivering an additional $8.9 billion in funding compared to the previous five years. This is a funding increase of 29 per cent. In 2016-17 in New South Wales, there were 5.5 million more bulk billed GP attendances compared to 2012-13.

–      The Turnbull Government’s support for students and families means that in New South Wales we will deliver a record levels of support including: $74 billion in funding for our schools over the next ten years; and a new, simplified Childcare Subsidy on 2 July 2018, with around 286,200 families in New South Wales who stand to benefit from these changes.

–      Australians with a disability will be supported through a fully-funded National Disability Insurance Scheme. Once fully implemented in 2020, 151,500 participants in New South Wales will benefit from the certainty and flexibility of support it provides.

•       Keep Australians safe by investing more in security at airports and strengthening our intelligence and security services 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 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,” said Minister Payne.

“Improved compliance and better targeting is helping to get welfare spending under control and we will continue to make sure that everyone, including multinationals pay their fair share of tax.

“Our record of responsible budget management means that under our plan, Australians can plan for their future with confidence.”
 
Minister Payne Media Contact:
Henry Budd: 0429 531 143
 

Topic: General News

Media contact

About us