FEDERAL BUDGET: WHAT DOES IT MEAN FOR CANBERRA?
If you’re a low or middle income earner in the capital – then you’re in luck!
It appears they are the immediate winners out of last night’s Federal Budget, with 4.4 million workers in line for big tax cuts.
The Treasurer’s announced a sweetener for those earning up to $90,000 a year – a one off payment of $530 at the end of the next financial year.
Scott Morrison also wants to do away with the second highest tax bracket from 2024 – saving people earning up to $200,000 a year more than $10,000.
Here in Canberra, over 190,000 locals are set to benefit from the tax relief plan.
But what else does the budget mean for Canberra?
Well, it seems to be a mixed bag really. Let’s start with some of the good news!
Canberra hospitals will get $403 million in spending and schools will get $308 million.
$200 million will be spent on our roads and $41 million for black spots.
$100 million will go towards the Monaro Highway upgrade, with the same amount to be spent on Barton Highway upgrades.
The Home Affairs Department will get $130 million in tech upgrades and the National Gallery will get $16.6 million for building repairs.
Then of course there’s the bad news – largely around job cuts in the public service.
Our cultural institutions have copped it too, with 10 jobs to go from the National Archives and 12 from the National Library.
Meanwhile, our Chief Minister wants to bid for some extra funding being offered up to fund major projects.
Andrew Barr hopes the territory will be offered the cash, which he’ll use for a better Canberra to Sydney rail link.
There’s also funding for the National Space Agency, with the ACT Government to lobby for it to be built here.
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