Federal Budget 2018

Release Date: 9/05/2018
The Tasmanian Chamber of Commerce and Industry tonight heralded the Federal Budget as being a great one for Tasmania.

“Scott Morrison’s third Federal Budget with tax relief for people earning up to $89,000 will hit Tasmania’s overall demographic strongly,” TCCI CEO Michael Bailey said.

“We have a lower average income than other states, so many thousands of Tasmanians will benefit from the tax cuts.

“The Budget’s focus on Australia’s ageing population is also great for our State. There will be more funding for in-home care and regional aged care. This will also be very beneficial for regional jobs in aged care and support businesses.”

Mr Bailey said the Federal Government’s increased infrastructure spend is long overdue.
“We have missed out in the previous two budgets - great to see this redressed in this Budget. To finally have the commitment for the Bridgewater Bridge cannot be overlooked – both from a jobs perspective and the connection for transport North and South.”

Mr Bailey said it was also pleasing to see Budget funding to alleviate urban congestion and freight routes.

“This will be competitive funding but we have a great argument for Hobart in particular.
“The TCCI is also extremely pleased with the Budget’s strong focus on business, particularly small business.”

However, Mr Bailey said the one major issue missing was a genuine effort to structurally reform the budget position.

“There is a risk that predicted surpluses won’t be sustainable, particularly if international commodity prices drop off.

“Essentially, the Federal Government is forecasting that everything will go right and not much will go wrong.

“Overall though, this is a great Budget for Tasmania, particularly for business and future infrastructure spend.”
Contact: TCCI Chief Executive, Michael Bailey

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