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budget

Federal Budget 2017-18 – The Big Losers

Treasurer Scott Morrison has delivered his second Budget, declaring there are, “better days ahead,” but here’s who won’t be seeing those better days he so willingly claims are coming.

Taxpayers – Majority of taxpayers are going to feel the effects of tax increases. The Medicare Levy is set to increase by 0.5% to 2.5% of taxable income with the aim of funding the $22 billion National Disability Insurance Scheme. In real world terms, Labor MP Emma Husar said, “if you earn $65,000 per year, you’ll pay $325 more each year in tax, but if you earn $1 million per year you’ll pay $16,400 less per year in tax.” This goes to show that this Liberal Government is relying on those worse of in our community to fix their debt woes, those who don’t have the extra to spare.

Uni Students – Students will end up spending an extra $2,000-3,600 for a four year course, a fee increase of 1.8% next year, and 7.5% by 2022. The HECS debt repayment threshold is set to be reduced, which means students will have to start paying back debt when they begin earning over $42,000 a year, instead of the previous $55,000 per year.

Welfare Recipients – Some new welfare recipients will now be subject to drug testing. People deemed to be at risk of substance abuse will be required to undertake random saliva, urine or hair follicle tests for drugs in three locations from 2018. Jobseekers who test positive to drugs will have their payments quarantined. About 450 people each year will be blocked from claiming the Disability Support Pension on the basis of drug and alcohol abuse alone. Many are saying this decision doesn’t really have a clear goal, as many believe those with addictions to illegal substances won’t stop because of a payment quarantine, and will need therapeutic help to stop.

You can view Labor Leader Bill Shorten’s full budget reply here.

 

 

  • May 12, 2017
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$2.3 Billion Jobs & Infrastructure Boost for WA

As part of the 2017-18 Federal Budget released on May 9, WA is set to receive a $2.3 billion road and rail infrastructure package.

This package will provide a major boost to WA’s local economy, with 6,000 jobs expected to be created as a result of 17 new projects.

The package is made up for a $1.6 billion investment from the Federal Government, with the State Government supplying $745 million.

The total $2.3 billion State-Federal package includes:

  • $1.86 billion reallocated from the Perth Freight Link project (including $1.2 billion in Federal funding)
  • $211 million from savings on existing road projects (including $166 million in Federal funding)
  • $226 million from the latest Federal Government GST top-up payment for Western Australia

The WA Infrastructure Package includes the following road projects:

  • Armadale Road/North Lake Road (Kwinana Freeway) – Constructing bridge and collector roads ($237 million)
  • Leach Highway (Carrington Street to Stirling Highway) – Upgrade to High Street ($118 million)
  • Fiona Stanley Hospital & Murdoch Activity Centre Access from Kwinana Freeway and Roe Highway – ($100 million)
  • Roe Highway (Kalamunda Road) – Constructing Grade Separated Intersection ($86 million)
  • Reid Highway (Altone Road to West Swan Road) – Constructing Dual Carriageway ($70 million)
  • Wanneroo Road (Ocean Reef Road) – Constructing Grade Separated Intersection ($65 million)
  • Wanneroo Road (Joondalup Drive) – Constructing Grade Separated Intersection ($50 million)
  • Kwinana Freeway (Russell Road to Roe Highway) – Widening of Northbound Lanes ($49 million)
  • Kwinana Freeway (Roe Highway to Narrows Bridge) – Implementing Smart Freeways ($47 million)
  • Mitchell Freeway (Cedric Street to Vincent Street) – Widening of Southbound Lanes ($40 million)
  • Kwinana Freeway (Manning Road) – Constructing Freeway On-Ramp ($35 million)
  • Outback Highway Seal Priority Sections ($33 million)
  • Wanneroo Road (Joondalup Drive to Flynn Drive) – Constructing Dual Carriageway ($31 million)
  • Karel Avenue (Farrington Road to Berrigan Drive) – Upgrades ($15 million)
  • Bunbury Outer Ring Road – Planning Work ($12.5 million)
  • Woolworths Drive/Hale Road Intersection Upgrade ($600,000)
  • METRONET – Denny Avenue and Davis Road (Armadale Rail Line) Level Crossing Removal ($62 million)

In addition, a combined $1.2 billion will be allocated towards the State Government’s METRONET project, including, subject to positive business cases, $700 million from the Federal Government towards future METRONET projects such as the Thornlie and Yanchep line extensions and a further $86 million towards other METRONET related projects.

As part of the overall package, the Australian Government will also provide $44.2 million towards regional road projects to improve regional road safety across Western Australia.

Premier Mark McGowan said the substantial package will help ease congestion, improve road safety and generally improve connectivity across Perth and Western Australia.

“This package will deliver a significant jobs boost across Western Australia,” Mr McGowan said.

“We’re getting on with the job and delivering on our promises to the people of Western Australia, delivering new job creating and congestion busting projects.”

  • May 10, 2017
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