Our plan for a stronger economy delivers for South Australia
The 2019-20 Budget is the next stage of the Morrison Government's plan to build a stronger economy and secure a better future for South Australians.
South Australian Cabinet Ministers Simon Birmingham and Christopher Pyne said the Budget delivers the first surplus in more than a decade, creates more jobs, lowers taxes and guarantees essential services like schools, hospitals and roads.
"After more than a decade of deficits, this budget forecasts a surplus of $7.1 billion in 2019-20 – a $55.5 billion turnaround from the deficit we inherited seven years ago," Minister Birmingham said.
"Our plan for a stronger economy has ensured we can deliver tax relief for workers, build a better tax system for businesses and guarantee essential services that all South Australians rely on."
The Government's strong budget management will allow us to invest in lower taxes for South Australians and their businesses, including:
- Delivering an additional $158 billion in income tax relief for hard-working Australians, on top of the $144 billion in tax cuts locked into legislation last year. This includes immediate tax relief of up to $1,080 for low and middle income earners and up to $2,160 for a dual income couple to ease cost of living pressures, benefiting 710,000 people in South Australia.
- We're backing small and medium-sized businesses by providing additional tax relief for around 3.4 million of them to help them reinvest in their business, create jobs and grow.
- We're increasing the Instant Asset Write Off to $30,000 and expanding its access, benefitting 244,000 businesses in South Australia.
- We're also investing an additional $60 million in the Export Market Development Grants Scheme (EMDG) over the next three years. This will assist current and aspiring small to medium-sized exporters, including those in South Australia to utilise our free trade agreements and provide more opportunities for them to export their quality produce and goods into more markets around the world.
Through our strong economic management we are able to guarantee the essential services South Australians rely on:
- To assist with their next power bill and the cost of living, the Morrison Government will provide a one off, income tax exempt payment of $75 for singles and $125 for couples to more than 3.9 million eligible social security payment recipients across Australia.
- Record levels of funding for public hospitals with payments to South Australia for public hospitals increasing by 38 per cent, from $1 billion in 2012-13 to $1.4 billion in 2019-20. Health funding for South Australia increases by $157 million from 2019-20 to 2022-23. The Government has also committed $30 million for a new state wide brain and spinal rehabilitation unit to be located at the Repat site
- For schools, record funding for South Australia will increase from $1.4 billion in 2019 to $2.3 billion in 2029, ensuring teachers have the support they need to prepare students for the future. The Budget also includes $30 million for the Local School Community Fund that will allow communities to fund projects such as upgrades to libraries, classrooms and play equipment.
We're also delivering record congestion busting infrastructure investment in South Australia over the next decade, getting families home sooner and safer and unlocking the potential of our state. This includes an additional $2.6 billion over the next decade for new land transport infrastructure projects in South Australia, bringing total infrastructure investment in the state to more than $8.2 billion from 2013-14. Projects include:
- $1.5 billion for the North-South Corridor
- $115.5 million for the Torrens Road Level Crossing
- $73.6 million for the Victor Harbor Road Duplication – Main South Road to McLaren Vale
- $49 million for the Portrush Road and Magill Road Intersection
- $30.5 million for the Fullarton Road and Cross Road Intersection.
In addition, the Government's $90 billion naval shipbuilding plan is providing a significant economic boost for South Australia with PwC forecasting the creation of 8,000 jobs for the state from this historic investment.
Working with the Marshall Liberal Government and the City of Adelaide, the recently signed Adelaide City Deal will focus on growing Adelaide's innovation economy and boosting Adelaide's burgeoning cultural and tourism economy. Our Government's contribution includes:
- $135 million to support projects at Lot Fourteen – $85 million for an Aboriginal Art and Cultures Gallery, $30 million for an international Centre for Tourism, Hospitality and Food Studies and $20 million for a collaborative research engagement hub
- $6 million to establish the space discovery centre to provide education and mission simulation to support training
- $10 million towards the rollout of smart technology infrastructure in the Adelaide CBD
- $14 million to promote Adelaide to locals and visitors; by upgrading the Cedars and Carrick Hill historic houses.
"This Budget is about easing cost of living pressures, guaranteeing essential services and building new congestion busting infrastructure to ensure families in South Australia can get home easier and safer, Minister Pyne said."
"This is all possible because of the Morrison Government's strong economic and budget management."
- Minister's office: 02 6277 7420 | email@example.com
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