Minister Barr: Budget position improves as ACT economy booms
- Written by ACT Government
Released 12/08/2016
The ACT budget bottom line has improved by $60 million based on new Treasury figures tabled in the Assembly today.
We are now looking at a lower deficit of $172.1 million, compared to a previous estimate of $232.5 million.
This is down to increased revenue and measured spending. Government revenue is up by $37.2 million, due to our healthy commercial and residential property markets. Expenses are also lower than forecast.
Ours is a prudent government which invests in high quality services while operating one of the fairest and most efficient tax systems in Australia. We are on a path to a balanced bottom line, having responsibly used the budget to help prop up the economy in the face of brutal cuts from the Liberals.
Our responsible approach is in stark contrast to the Canberra Liberals whose $400 million black hole will plunge the territory deep into deficit, and cost the jobs of countless teachers and nurses.
Canberra’s economy is going well despite thousands of Canberrans being sacked by the Liberals. We have the lowest unemployment in Australia and Triple A credit rating.
Our plan to diversify the economy and reduce reliance on the Federal Government is working. International flights which start in September will provide a further boost, with Singapore Airlines joining major international businesses like Ikea, Costco and QantasLink in choosing Canberra.
- Statement ends -
Section: Andrew Barr, MLA | Media Releases
