The Turnbull Government is making the right choices to ensure our nation’s economic growth story continues to secure better days ahead for the Central Coast, according to Member for Robertson, Ms Lucy Wicks.
“Our economic growth has been hard won and we have consistently outperformed the largest advanced economies in the world, but we shouldn’t take our success for granted,” she said.
“We are helping hardworking Australians on the Central Coast with a plan for more and better jobs, by securing the essentials they rely on and by easing cost of living pressures.”
Ms Wicks also outlined how and why the Budget would affect the Coast including: choices for secure job growth; choices to ensure essential services; reduction of cost of living pressure; reliable and affordable energy; and choices to keep the government living within its means.
“We are providing funding to incentivise States and Territories to cut red tape for small businesses and will extend the instant asset write off to small businesses for a further 12 months,” Ms Wicks said.
“We are choosing to invest in building Australia, with over $70b to transport infrastructure to reduce congestion, revitalise our cities and grow our regions, using grant funding, loans and equity investments.
“A $10b transformational National Rail Program will deliver rail projects that better connect our cities and regions and create new opportunities for housing, and we are taking action to safeguard Australian jobs and make sure that Australians have the necessary training and skills to be job-ready with a new Skilling Australians Fund,” Ms Wicks.
Ms Wicks also said the Budget is guaranteeing Medicare with a Medicare Guarantee Fund that will only pay for Medicare and medicines, and that the Turnbull Government was committed to fully funding the NDIS.
“We are also launching a fairer schools funding model that is needs-based, simple and transparent, and we are delivering affordable, accessible childcare for families with a simplified Child Care Package.
Ms Wicks said the Coalition was aware of the mounting pressure many Australians faced to keep a roof over their head and that the 2017 Budget was tackling these costs.
“There are no silver bullet solutions to making housing more affordable, but we are working to help first homebuyers, downsizers and those in need of social housing,” Ms Wicks said.
Ms Wicks also explained the Turnbull Government’s energy security plan.
“The Turnbull Government’s energy security plan will provide reliable and affordable energy for Australians coping with rising energy prices including by: securing access to our local gas resources for domestic use and ensuring consumers and businesses get a fairer deal,” Ms Wicks said.
Budget balance was at the heart of Ms Wicks’ explanation as to how the government would ensure it lives within its means.
“The government will continue to ensure multinationals pay their fair share of tax.
“Our actions have already raised $2.9b in tax liabilities this financial year against a group of just seven large multinational companies, and are expected to raise more than $4b in total this financial year from large public groups and multinationals.
“We will also continue to focus on stopping people trying to take an easy ride on our welfare system by strengthening mutual obligation requirements for payments and cracking down on those seeking to get out of those obligations,” Ms Wicks continued.
“The Turnbull Government is also making our financial system better for customers and taxpayers through greater competition, accountability and fairness.
“This will include a Banking Executive Accountability Regime; an investigation into financial system competition and a levy on large banks, securing $6.2b to support budget repair.”
Ms Wicks also went into further detail regarding the government’s focus on the Skilling Australians Fund and measures being implemented to address housing affordability.
“The Turnbull Government has abolished 457 visas to protect Australian jobs and is replacing the scheme with a new program more suited to our economic needs.
“The Turnbull Government will introduce a new foreign worker levy for certain temporary and permanent work visas.
“The funds raised from this levy will go to a new Skilling Australians Fund to give permanent funding for skills training, rather than rely on short-term funding.
“When matched with State and Territory funding, it will support up to 300,000 apprentices, trainees, pre-apprentices and higher level skilled Australians,” Ms Wicks said.
Measures outlined to tackle the housing sector included: Allowing first homebuyers to save for a deposit in their superannuation, and attract generous tax concessions; superannuation incentives for older Australians downsizing; funding for homelessness and social housing, especially for domestic violence victims and youth; launching tougher real estate rules for foreign investors to make sure they pay their fair share of tax and don’t leave properties empty; increasing the CGT discount to 60 per cent for affordable and social housing investment; securing new state agreements to require planning reform and deliver more affordable housing supply; a National Housing Infrastructure Fund and Commonwealth Land Bank to unlock land and infrastructure barriers; and, allowing negative gearing to continue for mum and dad investors securing their future and increasing rental housing stock.
Source:
Media release, May 9
Tim Sowden, Office of Lucy Wicks MP