Bernie Ripoll Federal Member for Oxley

Phone: 07 3818 3900 Fax: 07 3818 1181

BUDGET 09/10 OVERVIEW

THE 2009-10 BUDGET SUPPORTS JOBS TODAY BY INVESTING IN THE INFRASTRUCTURE THAT AUSTRALIA NEEDS FOR TOMORROW

This Budget supports jobs now, and delivers the investments needed to

strengthen the economy for the future.

The Budget:

Invests in nation building infrastructure – road, metro rail, ports, clean

energy and universities; Delivers a fair go for pensioners and a sustainable pensions system; and Makes the hard choices necessary to chart the course back to surplus.

Read the Nation Building for Recovery Budget 2009-10 In Brief here

KEY INITIATIVES OF THE 2009-10 BUDGET

The $22 billion Nation Building Infrastructure centrepiece:

$3.4 billion for roads

$4.6 billion for metro rail

$389 million for ports and freight infrastructure

$4.5 billion for the Clean Energy Initiative, which includes $1.0 billion of existing funding

$2.6 billion in projects focused on universities and research from the Education Investment Fund

$3.2 billion in projects focused on hospitals and health infrastructure from the Health and Hospitals Fund

Partnering with the private sector to build the $43 billion National Broadband Network

Supporting Jobs, Delivering for Pensioners, and Positioning for the Recovery

A pension increase of $32.49 per week for singles and $10.14 per week combined for couples on the full rate

A crucial boost of $2.7 billion in funding for tertiary education, research and innovation

$1.5 billion for the Jobs and Training Compact, providing education and services to support young people, retrenched workers and local communities

Enhancing participation with 18 weeks of Paid Parental Leave

A 50 per cent Small Business Tax Break for eligible assets

Extending the First Home Owners Boost for an extra 6 months

Honouring our promise of tax cuts

Hard choices and a clear strategy to return the Budget to surplus

The global recession has stripped around $210 billion from expected tax receipts

Running a temporary deficit and continuing important programs is vital to support jobs

Necessary and responsible borrowing that is markedly less than other major advanced economies

Budget savings of $22.6 billion over four years, including through vital structural reform

Fully offsetting the cost of the pension package over time, notwithstanding the ageing of the population

In the final year, the budget impact of new spending is fully offset

For more information about Labor’s other policy blueprints please visit www.alp.org.au or contact my office on 3818 3900