ACT Chief Minister and Treasurer Andrew Barr has this afternoon handed down a big spending 2017-18 Budget containing few surprises and confirming his predictions of a return to surplus in 2018-19.
To find out how the Budget will affect your hip pocket, click here
See also: Ratepayers feel the pinch as ACT Government spends up on infrastructure in 2017-18 Budget
OVERVIEW
Projected deficit of $83.4 million with an expected return to surplus of $9.7 million in 2018-19
Net debt up from $2001.1 million to an estimated $2746.9 million
A $400 million improvement overall since the peak of the Mr Fluffy crisis in 2014, according to the Treasurer
Retention of AAA credit rating from Standard & Poor’s
THE BIG TICKET COMMITMENTS*
$443 million in new health investment including $236 million for the development of a new Surgical Procedures, Interventional Radiology and Emergency Centre and $70 million to expand the Centenary Hospital for Women and Children
$210 million in new education spending including $100 million for infrastructure upgrades to local schools
$26.2 million to increase the capacity of schools in Gungahlin
$23.8 million spending in mental health including funds to establish a new Office for Mental Health
$49.9 million for the demolition of Gowrie Court in Narrabundah, subsequent relocation of public tenants and the related replacement of public housing stock.
$80 million to improve the city centre and surrounds, revitalise town centres and improve the quality of the city’s built environment including $59 million over four years to enable the City Renewal Authority to implement developments in the CBD, Dickson, along Northbourne Avenue and in West Basin and $20 million for planning and development of the City Hill and Lakeside precincts.
$30 million in city services including improved waste management and sportsground works.
$53.5 million for the second stage of light rail between the city and Woden, including the development of a business case, design analysis and procurement activities.
$54 million in road upgrades including $35 million for stage two of the Gundaroo Drive duplication
$20 million to boost the economy and create jobs, including $3 million to support the tertiary education sector and attract more students to Canberra and $11.6 million for tourism and events
$57.1 million for the largest renewal of public housing in ACT history, replacing 1288 units with new homes
$43.8 million for child and youth protection initiatives
$16.3 million over four years to upgrade and expand arts facilities in the Territory
$12 million in infrastructure and reforms to encourage active travel
$11 million in emergency services spending including $7.3 million for more frontline firefighters
$5.3 million for police equipment including tasers
$4.8 million for six extra police to patrol the Territory’s nightlife precincts
$1.4 million over four years for the Office of LGBTIQ Affairs
$1.4 million to help refugees and asylum seekers improve their English language skills.
* Many of these were either announced prior to Budget day or are confirming funding for promises made in the lead-up to the ACT election.
SPENDING BY CATEGORY
$1.6 billion spending on health
$1.2 billion spending on education
$1.1 billion spending on justice and safety and disability, community services and housing
$731 million spending on city services, public transport and government service delivery
$340 million to city improvement programs overseen by the Planning and Regulation and Environment, Sustainability and Land Management directorates
$314 million on events, tourism and investment and economic and financial stewardship
REVENUE STREAMS
41 per cent from Commonwealth grants including GST
33 per cent from taxation revenue including rates (27% or $487 million), payroll tax (27% or $470 million), general duties (18% or $299 million) and other (28% or $495 million).
16 per cent from other revenue
10 per cent from sales of goods and services
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