Budget is a reflection of a healthy economy
Wednesday, 9 May 2018
The 2018 Budget is a reflection of a healthy economy and a plan to ensure that strong economic growth can continue to be secured and shared.
The Federal Member for Parkes Mark Coulton said the Budget is a clear indication the economy is back on track.
Mr Coulton said tax relief initiatives, more home care packages, and fully funding the National Disability and Insurance Scheme will help many people in the electorate of Parkes, while the establishment of the Murray-Darling Medical Schools Network including a medical training facility in Dubbo is a tremendous boost for the region.
He said the continuation of the Building Better Regions Fund with a further $200 million, $45million of which will enhance regional tourism infrastructure, and the successful Stronger Communities Programme, with an additional $22.5 million is more good news for the electorate.
“I am particularly pleased both these programmes will continue to provide funding opportunities and I’m equally pleased to see the extension of the Remote Airstrip Upgrade programme which will continue to deliver better access and safety upgrades to airstrips in my electorate” he said.
Mr Coulton said another major budget funding announcement is the $3.5billion Roads of Strategic Importance initiative which will upgrade key freight corridors in regional Australia and increase productivity by connecting our major agricultural and resource areas with our cities and ports.
“Local councils in my electorate will also benefit from an early payment of 50 per cent of the 2018-19 Financial Assistance Grant programme” he said.
“This cash injection of more than $1.2 billion will give councils the opportunity to start work immediately on new projects and to benefit from additional interest on cash in the bank.”
Mr Coulton said low and middle income tax relief to encourage and reward working Australians will see 57,185 taxpayers in the electorate of Parkes benefit in the upcoming 2018-19 financial year.
He said the Government is also helping older people stay in their own home for longer through more high level home care packages while also allocating $53.9m to enable more regional students to qualify for Youth Allowance by increasing the parental income cut-off by $10,000.
Mr Coulton said the extension of the popular instant asset write off for a further twelve months will allow small businesses, with turnovers up to $10 million, to benefit from writing off assets costing less than $20,000.
“Already well over a thousand local businesses in Parkes have benefitted from this popular small business measure” he said.
As Assistant Minister for Trade, Tourism and Investment I am particularly pleased to see a $15million business engagement package to position Australian businesses to seize global opportunities and support them in the process.
“This funding will help tackle non-tariff barriers which cost our exporters billions in lost revenue, combat protectionism and enable proactive engagement with the business community” Mr Coulton said.
Mr Coulton said the budget is also delivering $224 million in new funding for agriculture, fisheries and forestry. This will drive continued growth and competitiveness which will grow trade and jobs by creating new market access and supporting the biosecurity system underpinning it.
He said the Government has committed more than $51.3million to grow agricultural exports, including funding an extra six Agricultural Counsellors in key markets, and to support successful market access.
“This will ensure we capture the gains from new exports agreements like the TPP-11, the Pacific Alliance Free Trade Agreement and the Regional Comprehensive Economic Partnership.
“The agricultural counsellor network helps farmers build strong relationships with key trading partners. It also provides vital market intelligence and works through trade barriers.”