STRENGTHENING OUR REGION
AUSTRALIA’S ECONOMIC RECOVERY
Australia’s economic recovery leads the world – stronger than the United States, the United Kingdom, Canada, France, Germany, Italy and Japan. Unemployment is at 4%, the equal lowest in 48 years. This Budget also delivers the largest improvement to the Budget bottom line in over 70 years. Australia is one of nine countries to hold a AAA credit rating from the three leading credit agencies. Our economic plan is working.
HEALTH AND ESSENTIAL SERVICES
Our Government has delivered record funding for schools, hospitals, Medicare, mental health, aged care, women’s safety and disability support, and more than 2,800 new or amended medicines have been listed on the PBS. Regional Australians know how vital it is to have medical services where we live. This is why the Nationals in Government are deregulating MRI licences in rural and regional Australia, opening up opportunities for more local services and delivering additional services for more than 40,000 regional, rural and remote patients. Since we have come to Government, funding for aged care has doubled. Our substantial women’s health package includes stillbirth and miscarriage support, the establishment of new endometriosis clinics, and greater access to breast and cervical cancer screenings. We’re expanding rural medical schools, providing more opportunities for rural medicine students and training future rural doctors.
COST OF LIVING RELIEF
Our temporary, targeted and responsible package will ease cost of living pressures. For six months, fuel excise will be cut in half, saving Australians 22 cents a litre. A one-off $420 Cost of Living Tax Offset will help 10 vmillion workers, with people receiving the low-andmiddle income tax offset getting up to $1,500 this year. A one-off $250 Cost of Living Payment will be delivered to six million Australians, including pensioners, carers, veterans, job seekers, eligible self-funded retirees, and concession card holders.
LONG TERM PLAN FOR JOBS
By backing small businesses, and investing in skills, manufacturing, infrastructure, energy, and regional development, we will strengthen our economy and create more jobs. To encourage small businesses, a 20% bonus deduction will be provided for expenditure on training new and existing staff. New incentives will encourage more apprentices. Our $120 billion investment in nation building infrastructure will support around 100,000 jobs. Unprecedented regional investment will unlock new economic frontiers for agriculture, infrastructure, and energy.
WATER SECURITY
Water is the lifeblood of our regions, underpinning our agriculture and primary industry sectors, supporting 220,000 jobs and injecting billions into our national economy. Since 2013, The Nationals in Government have committed $1.6 billion in funding, to 156 projects through the National Water Grid Fund, including $14.5 million for the Mitiamo and District Water Supply Project We’re providing $139 million to make water delivery in the Murray-darling Basin more reliable and to make the river system more sustainable. An additional $94 million for drought resilience initiatives will help farmers and communities prepare for future droughts.
INFRASTRUCTURE FOR THE REGIONS
Our $120 billion infrastructure pipeline has already completed over 35,000 projects throughout Australia. We’re delivering infrastructure to grow our regional communities and boost job opportunities. This Budget includes new commitments for road and rail projects across Australia. We’re investing $160 million to upgrade level crossings in the regions, delivering an additional $880 million for Roads of Strategic Importance, and we’re continuing the Local Roads and Community Infrastructure program through a $500 million investment for local councils to target vital community projects.
SMALL BUSINESS
Our Government has reduced tax rates for small business from 30% to 25% (the lowest level in over 50 years) and delivered record investment incentives – including the expanded instant asset write-off. We are further encouraging small businesses that invest in new technology. To encourage small businesses, a 20% bonus deduction will be provided for expenditure on training staff, or digital technologies (like cloud computing, einvoicing, cyber security, and web design) – on expenditure up to $100,000 per year.
INVESTMENT IN SKILLS AND EDUCATION
Around 220,000 Australians are now in a trade apprenticeship – the highest number on record. To encourage more apprentices, from 1 July 2022 we are providing $5,000 payments to new apprentices and up to $15,000 in wage subsidies for employers. More than 30,000 new places were created at universities last year. Since coming to Government in 2013, education funding has increased by more than 60%.
SUPPORTING HOME OWNERSHIP
Over the last year, 160,000 Australians purchased their first home. Homebuilder, the First Home Super Saver Scheme and the Home Guarantee Scheme have helped make the dream of home ownership a reality. And the Regional Home Guarantee will support 10,000 homebuyers a year to purchase or construct a new home in regional Australia. The Home Guarantee Scheme will now be more than doubled to 50,000 places per year. This helps single parents buy a home with a deposit as low as 2%, and first home buyers buy a home with a deposit as low as 5%.
REGIONAL CONNECTIVITY
Strong, reliable communication is vital in regional Australia. It equips business and agriculture to grow, children to study locally and keeps us safe during disasters. The Nationals in Government are delivering $1.3 billion to improve telecommunications. This includes $480 million to upgrade NBN Fixed Wireless and Satellite networks, and $811 million to expand regional mobile coverage and address blackspots along up to 8,000km of roads and adjoining homes and businesses.