Responsible Budget will put us back in the black

Federal Member for Chifley, Roger Price said last night's Budget will return the balance sheet to surplus three years earlier than expected.

Federal Treasurer, Wayne Swan delivered a fiscally responsible budget, uncharacteristic of usual pre-election budgets.

Mr Price said, "I'm delighted to be a part of a Government that had worked so hard to keep the economy in a position of strength."

"The strong position of the nation's economy means that the people of Chifley will be better positioned than anywhere else in the world to take advantage of the opportunities ahead."

Families, low income workers and seniors in Chifley received their third round of tax cuts in three years in what was the Federal Labor Government's third budget yesterday.

"As a result of three years of tax cuts delivered by the Federal Labor Government:

  • a worker in Chifley earning $20,000 will pay $750 less in income tax in 2010-11;

  • a worker in Chifley earning $50,000 will pay $1750 less in income tax in 2010-11;

  • a worker in Chifley earning $80,000 will pay $1550 less in income tax in 2010-11."

The Government also announced that it will make it easier to fill out tax returns in further reforms to the tax system.

Mr Price said, "From 1 July 2012 the Government will give people the option of choosing a standard deduction of $500 instead of claiming work-related expenses."

"The standard deduction will be increased to $1,000 from 1 July 20113."

"Soon you can forget about the hassle of shoeboxes full of receipts and the cost of getting your tax done at the end of each year."

The new Labor Candidate for Chifley, Ed Husic echoed the views of the retiring member.

Mr Husic said, "This is an incredibly responsible budget with its focus clearly on reforming taxation and our struggling health system."

The Government will invest $1.2 billion in training and supporting more doctors, nurses and allied health professionals, as part of building a National Health and Hospitals Network.

"The Government has given a commitment to train almost 5,500 GPs and 680 specialist doctors as well as expaning and improving the support for more than 4600 full-time equivalent nurses working in general practice, as well as other nurses working in training in aged care and rural areas."

"No reform of our health system can be achieved by additional funding alone, it needs to include the workforce that is so important to run our hospitals," Mr Husic added.

Mr Husic is also delighted with a promised boost in additional training places for 40,000 young people and support for 22,500 new apprenticeships.

"If you're a young person in Chifley this is very good news for you today."

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Ed Husic MP
Federal Labor Member for Chifley

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