Page 2231 - Week 06 - Wednesday, 9 May 2012
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income Canberra families who need just that assistance. 110,000 households in the territory will receive compensation for the carbon tax. Approximately 78,000 households will receive assistance greater than the expected average impact of the carbon price. The increase in the tax-free threshold to $18,000 will see approximately 13,000 ACT households no longer paying income tax.
In terms of additional spend in the territory, there is $36.4 million for Australia’s key collecting institutions, including the National Library, the National Museum, the National Archives and the War Memorial. There is $27 million for the refurbishment of the War Memorial’s First World War galleries, $12 million extra for the NCA, $5 million extra for the operations of parliament and capital works upgrades regarding access for disabled people around Parliament House. There is $2.5 million for lights at Manuka oval—very pleased to see that. There is $1 million to assist with the costs of implementing national reforms relating to national transport regulatory reforms. And of course there is funding for the national disability insurance scheme—again, something that one would hope there would be tripartisan support for.
MR SPEAKER: Mr Hargreaves, a supplementary.
MR HARGREAVES: Treasurer, what steps are you going to take now in relation to the ACT budget and the downturn in morale stemming from Mr Hockey’s comments?
MR BARR: I took the decision last year to delay the timing of the territory budget until after the commonwealth budget, and I think the reasons for that are very clear. In fact, I received the fairly strong support of all stakeholders for that decision.
The territory is now faced with two policy options: we can seek to support the territory economy through the next period or we can adopt a slash-and-burn approach of withdrawing ACT government capital and recurrent program funding in some hairy-chested, Captain Zero-type approach to economic growth.
My view is that the territory should take a measured and sensible response to the commonwealth’s announcements. That will mean delaying our return to surplus until the 2015-16 year. In my view that is the economically responsible approach to adopt. We will return to our original seven-year budget plan. There would be no value at all in plunging the territory economy into recession by seeking to withdraw ACT government capital and recurrent programs in the forthcoming budget.
It is my view that the territory economy needs to be supported through the next few years and that we need to undertake, more aggressively now than ever, tax reform.
MR SESELJA: Supplementary, Mr Speaker.
MR SPEAKER: Yes, Mr Seselja.
MR SESELJA: Minister, do you support the federal Labor Party’s broken promise on superannuation contributions in this budget in failing to increase the non-taxable amount that can be put in by some members of the community from $25,000 to $50,000?
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