Budget delivers strong economic plan for regions

Tuesday, 3 May 2016

Federal Member for Hinkler Keith Pitt says last night’s Budget is an economic plan for a stronger, growing economy with more jobs.

“This Budget delivers a foundation for regional communities to grow and create more jobs through key initiatives, such as tax cuts for small to medium businesses, renewed infrastructure investment in roads and the Youth Jobs PaTH program,” Mr Pitt said.

There is an estimated 8,541 small businesses in the Hinkler electorate and many will benefit from the reduced tax rate of 27.5 percent which takes effect from 1 July 2016.

“Small business will also benefit from simplified depreciation rules, including the ability to claim an immediate deduction for each and every asset purchased costing less than $20,000 until 30 June 2017.”

The Coalition Government will invest $751.7 million over four years from 2016-17 to establish a Youth Jobs PaTH program for young job seekers aged under 25 years to improve youth employment outcomes.

“Employers I’ve spoken to say young people need the basics before they start work. The Coalition is committed to making sure those who are able to work have the necessary work-life skills required to enter the workforce,” Mr Pitt said.

Also announced last night was $37.9 million committed in the Budget to improve access to mental health treatment for veterans.

“Anyone in Hinkler who has served in the ADF permanent forces will be eligible for treatment of conditions such as post-traumatic stress disorder, anxiety, depression, and alcohol and substance abuse.

Eligible veterans will receive a Department of Veterans’ Affairs (DVA) White Health Card.

“The earlier a veteran can get help the better the likely outcome — if an eligible person living in Hinkler requires treatment, it is funded,” Mr Pitt said.

The Roads to Recovery program will receive $400 million in 2019-20 and the Black Spot Program will receive $60 million per year from 2019-20, building on the existing $500 million.

Also beginning on July 1 is the roll out of an additional $298.2 million over four years to support the National Ice Action Strategy, which came after the Australian Crime Commission identified ice dealers were targeting rural and regional Australia.

FACTBOX:

Youth Jobs PaTH (Prepare – Trial – Hire)

  • PREPARE – Industry endorsed pre-employment training from 1 April 2017 – training for up to six weeks to develop basic employability skills.

  • TRIAL – Internship placements of up to 12 weeks from 1 April 2017, with job seekers receiving $200 per fortnight and businesses will receive $1000 up front.

  • HIRE – Youth bonus wage subsidies – from 1 January 2017, employers will receive a wage subsidy of up to $10,000 for job seekers under 25 years with barriers to employment and will continue to receive up to $6500 for the most job-ready job seekers.

Education funding

  • Additional $118.2 million over two years from 2016-17 in additional support for school students with a disability.

  • The Government will provide an additional $1.2 billion over four years from 2017-18 for the 2018-2020 school years.

More details on the Budget are available at www.budget.gov.au