The Treasurer handed down his Budget yesterday evening. I may not be a financial expert, but I know the cost of living is crippling our community, but what’s most important about the announcement in yesterday’s budget is the impact they have on us, the people who live and work in the electorate of Fowler.

Here’s a snapshot of my budget highlights and lowlights.

Cost of Fuel and Energy Prices

    • The government will not be extending the fuel excise.
    • Energy prices are set to rise 30-50% in the next year. The government will invest $20 billion in Rewiring the Nation, where there may be long-term benefits. However, there is nothing that provides immediate relief for families.
    • When it comes to electricity costs telling us they will rise steeply is not good enough. The government needs to take on the energy companies to stop record profits at the expense of energy consumers from manufacturers to households. We need a price cap on East Coast gas or a super profit tax to be able help low-income households in paying their electricity bills.
    • The government will scrap the low- and middle-income tax offset, meaning workers earning less than $126,000 will no longer get up to a $1,500 tax break beyond 2022.

 

Housing Affordability

    • The government has created and funded a new housing accord with a very ambitious goal of creating one million social and affordable homes, in an agreement between the Federal, State, and Territory governments, as well as industry.

 

Hospitals

    • There’s $237 million in funding for community health, public hospitals and infrastructure projects in NSW.
    • The government has also committed $235 million over four years to commence the roll-out of Urgent Care Clinics to help alleviate pressures on the Emergency Departments.
    • I will continue to fight for Fairfield Hospital to get the resources we deserve.

 

Pensioners

    • The proposed new Work Bonus Scheme allows pensioners to have a $4,000 boost to their Work Bonus income bank.
    • The government also plans to increase the income threshold for the Commonwealth Seniors Health Card from $61,284 to $90,000 for singles and from $98,054 to $144,000 (combined) for couples.

 

Aged Care

    • As part of recommendations from the Royal Commission into Aged Care, the government will establish a responsibility for aged care providers to have a registered nurse on-site 24 hours a day, 7 days a week by July 2024.

 

Small Business

    • The government has committed $10.9 million to the extension of the New Access for Small Business Owner Program, which matches small business professionals with trained mental health staff to ensure the overall mental health and wellbeing of our SME owners.
    • $4 million of new funding will go to the Small Business Debt Helpline, a free-to-use service offered by Financial Counselling Australia.

 

Childcare

    • Under the proposed legislation announced in the Budget all families with a total income of $530,000 or less would have their childcare subsidy rate increased.
    • For example, a couple with a combined income of $120,000 would receive an 82 per cent subsidy, up from the current 71 per cent.

 

Mental Health

    • Under the National Mental Health and Suicide Prevention Agreements, NSW has received $7.6 million in mental health funding compared to nearly $37 million for Victoria this year.
    • In saying this, the government will be providing $203.7 million for all students to help address the adverse impacts of COVID-19 on their wellbeing.

 

Migration

    • The government has also confirmed their plans to increase the migration intake 160,000 to 195,000 this year, to tackle the jobs and skills shortages.
    • While I support migration, we must ensure we have the proper resources, infrastructure, schools and programs to ensure the new migrants have a chance at success.

 

Local Infrastructure

    • The government as honoured the Western Sydney City Deal which will see $23.1 million in funding to improve liveability in the region.
    • $921 million in funding has also been allocated to improving Western Sydney transport infrastructure, as part of plans for Western Sydney Airport in Badgerys Creek.

 

I would like to see some of this funding is invested into the improvement of our public transport links.

Multiculturalism

    • The government has announced a $18.2 million Community Language Schools Grants program to support more young Australians to learn a second language.
    • There also appears to be more funding for SBS and ABC – two broadcasters that are especially valuable to our multicultural communities.
    • The government is committing $1 million to a review which will examine whether SBS should relocate to Western Sydney.