Tag Archive: budget

Tasmanian Government to Spend $21m on Two Key Tourism Projects

Tourism Minister Will Hodgman

Tourism Minister Will Hodgman

The Tasmanian Government has announced plans to spend $21m on two key tourism projects.

Premier and Tourism Minister Will Hodgman recently announced $15 million for The Cradle Mountain Master Plan and more than $6million towards the upgrading of the Great Eastern Drive along the state’s east coast.

Although Tasmania already has a booming visitor economy, the minister said the budget would add to the already strong tourism sector.

The news of the budget was welcomed by the Tourism Industry Council Tasmania and its chairman Daniel Leesong who said it would enable Cradle Mountain to become a world-class destination.

These projects would draw visitors into regional Tasmania.

Read more at http://www.abc.net.au/news/2016-05-26/government-to-spend-21m-on-key-tourism-projects/7448244

The Potential Problem with the Turnbull Government’s Company Tax Cuts

Scott Morrison - Treasurer announced the tax cuts.

Scott Morrison – Treasurer announced the tax cuts.

An article on Smh.com.au recently discussed the potential problem with the Turnbull Government’s Company Tax Cuts which some say will send the budget backwards.

A company tax cut would cost Canberra more than $8billion a year in revenue while recovering only a fraction of that through the extra growth in jobs and wages predicted.

The government announced in its May budget that it would cut the corporate tax rate from 30 cents in the dollar to 25 cents for all companies by 2026-27, and conceded some days later that this move would cost the budget an estimated $48.2 billion over the decade.

Read more at http://www.smh.com.au/federal-politics/federal-election-2016/election-2016-the-potential-problem-with-the-turnbull-governments-company-tax-claims-20160529-gp6ika.html

Opposition Leader Defends Labor’s Billion Dollar Prescription Promise

bill shortenThe opposition leader Bill Shorten recently defended his party’s promise on prescription medicines against Coalition jabs that he is putting more policies on the unfunded “spendometer”.

The party has been criticised by Prime Minister Malcolm Turnbull and senior Coalition ministers for announcing new spending without commensurate cuts.

Turnbull highlighted the importance that government spend within its means and the need to maintain our health system which is the best in the world with more spending.

For the full lowdown on the debate read http://www.smh.com.au/federal-politics/federal-election-2016/election-2016-shorten-defends-1-billion-medicines-promise-against-governments-labor-spendometer-gibes-20160522-gp0tcc.html

 

 

Has Tony Abbott’s Last Budget’s Promised Economic Boost Failed?

tony abbottThe main promise made by Tony Abbott’s final budget seems to have failed.

The small business package which was so central to Abbott’s final budget does not seem to have delivered the promised boost to the nation’s economy.

The package, dubbed “Tony’s Tradies package” was set to cost the budget $5.5 billion over 4 years. The aim of which was to provide a platform for the Abbott government’s re-election plans.

The package included a reduction in small business tax by 1.5 per cent and allowed firms with revenue under $2 million to claim an unlimited number of tax deductions for things under $20,000 each.

Read more: http://www.smh.com.au/federal-politics/political-news/centrepiece-of-tony-abbotts-last-budget-fails-to-deliver-promised-economic-turboboost-20160311-gngnk6.html#ixzz43I9iP117