What are you hoping to see from Tuesday night’s Federal Budget?
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Increased government spending on roads and infrastructure, housing, health, education and mental welfare services? Or strengthening of our defence and Border Force capabilities? Or perhaps you just want some more dollars in your pocket?
Budgets of both Federal and State varieties often promise much but deliver little for “the man on the street”. Focusing instead on the big end of town and a few key big-ticket items make the big-picture figures seem impressive while not really doing much overall. It appears the same is coming from this week’s announcement.
Fairfax Media economics editor Ross Gittins was among those commentators predicting “modest” tax cuts for low-income earners and small falls in unemployment.
Meanwhile, an Urban Congestion Fund was predicted to be dropping billions into road and rail projects in capital cities. Around $8 billion is already slated for projects across Victoria, but no word on any deals with NSW as yet.
In a step away from the usual speculation over health, housing, education and infrastructure spending, it seems Goulburn’s specialist and small-to-medium enterprises might benefit most from Budget night.
Federal Member for Hume Angus Taylor pointed out that craft brewers would no longer pay additional tax, but instead claim back excise tax with an extended concessional rate for smaller kegs, allowing such SMEs to compete on fairer terms with large beverage companies.
Mr Taylor said the tax concession would open the door to new products and opportunities for businesses.
Why is this a good thing for Goulburn? Well, Stockade Brewco is one such SME craft brewery expected to soon set up shop here. “This means more jobs and the likelihood of lower craft beer prices for consumers,” Mr Taylor said.
This will likely be the last Budget before the next Federal election, so keep an eye out for those “issues inherited from the last government” statements on why certain budget measures can’t be achieved, like the oft-promised surplus that still is yet to happen, and looks unlikely for at least another term of government.
Just enough time for that government to blame previous iterations for also not being able to reduce the country’s deficit.