Marshall’s Liberal government has welcomed the federal government’s 2021-22 budget for its strong focus on continued economic and job recovery following the global COVID-19 pandemic.
Treasurer Rob Lucas said the significant investment in job-creating infrastructure projects across the state, as well as targeted funding to support working families, single homebuyers and low- and middle-income earners, would benefit many South Australians through expanded tax breaks.
“This is a significant budget for jobs that will help secure the country’s continued economic recovery and continue to help South Australians get back into the job market, upgrade their skills and, in many cases, enter the real estate market,” said Lucas.
“We welcome job creation and stimulus measures such as the expanded JobTrainer Fund to provide additional low-cost, free apprenticeships in skills-needing areas, tourism and hospitality support, and an immediate 12 month asset depreciation extension for eligible companies.”
“We also acknowledge a significant $ 3.4 billion infrastructure commitment to transportation projects for SA – including $ 2.6 billion for the North-South Corridor Project, Augusta Highway Duplication (US $ 148 million Dollars) and the Truro Bypass ($ 161.6 million) – along with other existing spending commitments will support thousands of local jobs.
“In fact, South Australia receives 22 percent of the additional federal infrastructure spending in this budget, much to the dismay of some other states. We also applaud the $ 6 million allocated to modernize the Netball South Australia stadium, on top of the $ 12 million state funding announced in November. “
Mr. Lucas also welcomed the Commonwealth’s critical investment in mental health programs, additional funding for the National Disability Insurance Scheme to support the disabled, domestic violence support services, elderly care, and women’s health and safety.
“The significant commitment to psychiatric care will support South Australians at every stage of life,” said Lucas.
Mr Lucas said Australia’s economic recovery has resulted in a further improvement in the forecast GST estimate for this fiscal year in South Australia. GST revenue for the state improved by $ 926 million in 2020-21 and by $ 668 million in 2021-22, compared to estimates in the 2020-21 state budget.
“While our improved GST position compared to GST estimates in our review of the 2019-20 half-year budget ahead of the effects of COVID-19 is clearly to be welcomed, GST revenue is projected to still be in 2020-21 $ 375 million lower in years and $ 364 million lower will be lower in 2021-22. “said Mr. Lucas.
The state budget of SA 2021-22 will be handed over on Tuesday, June 22nd.
/ Public news. This material is from the original organization and may be of a temporal nature and may be edited for clarity, style and length.