Federal Member for Parkes, Mark Coulton has welcomed the 2016–17 Federal Budget as being a sound and sensible budget that offers good opportunities to stimulate the economy of Western New South Wales.
Attending Parliament in Canberra last night, Mr Coulton said he was not surprised by Treasurer Scott Morrison’s approach to this budget.
“I never expected this budget to contain any significant spending increases or drastic revenue raising measures,” Mr Coulton said.
“This budget needed to provide a good foundation on which Australia can stimulate its economy and I believe the Coalition Government’s plan contained in this budget achieves just that.”
Mr Coulton said that there were some key funding commitments and budget measures that will be of particular significance to the local economy.
“I am extremely pleased that the budget provides a $594 million investment in the Inland Rail freight corridor linking Melbourne to Brisbane,” Mr Coulton said.
“This is in addition to the $300 million already committed to the Inland Rail project and will enable the Australian Rail Track Corporation to commence land acquisitions in 2017 as well as undertake pre-construction activities.
“Business owners, farmers and logistics companies can now see that we are going to do this and people can start to look to the West to invest.”
Mr Coulton also welcomed the announcement of a new Youth Employment Package which will see the Government invest $840 million over four years to get young people into employment.
“There are a lot of young people across Western NSW who need an extra hand to help them into the workforce,” Mr Coulton said.
“The Youth Employment Package aims to provide the missing link to assist young Australians to take advantage of new and existing job opportunities by providing incentives for regional business to take on new employees.
“This is not only great news for young jobseekers but also good news for local business owners who often struggle to find suitable people to undertake work they have on offer.”
“Again this is another measure that will create the jobs and growth that will boost the local economy.”
Targeted measures in the budget that Mr Coulton says will help reduce tax liability, compliance costs and increase cash flow will further help local small businesses to grow and create more jobs.
“By helping to reduce the cost of running a small business, family businesses, local industries and farm enterprises will have greater opportunities to grow and create more jobs,” Mr Coulton said.
“Such measures will not only improve the livelihoods of small business owners but also the strength and resilience of the local communities where they operate.
“This is particularly important in the rural and regional areas that I represent where local communities rely so heavily on the local businesses; they are the backbone of our local economies and everyone wants to see them succeed.”
More information about the 2016-17 Federal Budget can be found at http://budget.nationals.org.au/