BUDGET 2019: What It Means For The Gold Coast
Tax Cuts & Roads Bonanza
With an election on the horizon the Morrison Government has handed down a good news budget, headlined by another $158 billion in tax cuts and a surplus for the first time in 12 years.
Australians earning up to $126,000 will get a tax cut, on top of the cuts announced last year, meaning up to an extra $1080 for singles and $2160 for dual-income families.
The nation will pay its own way with a $7.1 billion surplus, a $55 billion turnaround from the deficit the Coalition inherited six years ago.
Treasurer Josh Frydenberg last night also announced the government would spend big on roads and infrastructure, dishing out $100 billion for projects across the country over the next decade.
It includes the $500 million pledged to upgrading the M1 between the Gold Coast and Brisbane.
That's on top of $500 million already announced for the widening works down to Tugun, $112 million for Stage 3A of the Light Rail down to Burleigh Heads, and $8 million to investigate a possible fast rail up to Brisbane, as well as a heavy rail extension from Varsity Lakes to the Gold Coast Airport.
Local MP Karen Andrews also highlighted the more than 70,000 small businesses on the Gold Coast that will benefit from an Instant Asset Write Off increase.
"That goes up to $30,000, and more businesses are going to be able to access it because we've lifted the threshold from $10 million turnover to $50 million turnover," said the member for McPherson.
"This will really get the Gold Coast moving."
The budget was welcomed by peak motoring group RACQ, with spokesperson Rebecca Michael happy to see the funding included for the works between Daisy Hill and the Logan Motorway.
"On the M1, the $500 million that was allocated leading up to this budget has appeared," she said.
"So we're actually pleased to see the government has honoured that commitment."
Record funding promises were also made in health, with a spend of $81 billion in 2019-20, increasing to $89.5 billion in 2022-23, as well as extra funding for schools.
Meanwhile Labor was on the offensive today.
Speaking ahead of Opposition Leader Bill Shorten's incoming Budget Reply, senator for Queensland Murray Watt believed it was all smoke-and-mirrors in a bid to turn votes around heading into the election, especially when it came to the forecasted surplus.
"You've got to wonder how realistic this government's projections are," said senator Watt.
"The surplus they're forecasting has a whole range of assumptions, including wages increasing at a level that they haven't increased for years.
"For six years they've made cuts to Gold Coast hospitals, to ... schools, they haven't put any money seriously into Gold Coast infrastructure for years.
"And now, a few weeks before an election they come out with a budget and want everyone to forget about that."
Check out the full budget details here.