Next month’s ACT Budget will contain measures to help businesses employ more people, and strategies to help public servants laid off by the Commonwealth into new businesses and entrepreneurship.
We will be targeting measures at the different demographics leaving the public service – younger people and people near retirement – to encourage them to stay in Canberra and enter into new businesses.
The Budget will also outline a combination of modest new borrowings and asset sales to raise money for new public health, education, transport and municipal infrastructure.
This will be a Labor budget and a contrast in philosophical approach to the federal budget.
It will contain prudent measures to support the Territory economy in the short term and look to maintain a balanced budget over the economic cycle.
We are not going to exacerbate the impact of the federal budget on the ACT economy and drive further misery and austerity.
There is a clear role for the ACT Government to support economic growth at this time particularly through strategic partnerships with the private sector.
We are prepared to take a short-term hit on some revenue lines to encourage growth, especially partnerships with local, national and international business.