ACT Treasurer Andrew Barr is putting the finishing touches on the government's latest budget, set to be delivered on Tuesday, June 3.
Subscribe now for unlimited access.
$0/
(min cost $0)
or signup to continue reading
Canberra Times journalists will join the traditional ACT Legislative Assembly media lock-up to go through the budget papers to deliver our readers all the announcements live as Mr Barr outlines key spending measures from 3pm.
Before the full package is revealed, here is what we already know of budget 2014-15:
- A budget in deep deficit. The government forecast $110 million for 2014-15 in February, but the budget has taken big hits since.
- The ACT government’s long-held ambitions of attracting international flights to Canberra Airport will receive a renewed boost with $600,000 of reallocated money for overseas marketing and promotions partnerships with airlines who schedule flights.
- An additional $34 million will be spent to see elective surgery waiting lists reduced by more than half. The four-year package includes $250,000 for bariatric surgery across the next 12 months and the first stand-alone public funding for the weight-loss procedure for the most seriously obese.
- Stamp duty on house sales is set for another cut, as the ACT government moves to phase out the tax over 20 years.
- A $150,000 "private sector transition fund" will help public servants establish small businesses and consultancies. The fund will provide workshops on business planning, developing business models, law, marketing, human resources and industrial relations.
- Car parking at Calvary Hospital is set to improve with $19 million allocated for a 700-vehicle facility included in the budget.
- The Brand Canberra program will be continued with $800,000 in new funding for national and overseas marketing.
- A $160,000 campaign will help attract more women into Canberra’s emergency services. Currently women make up just 19 per cent of full time staff and 27 per cent of volunteers. This money is being reallocated from existing funds.
- The revitalisation of Woden town centre will be a step closer to completion with $3.25 million slated for the first stage of construction works.
- A $3.38 million upgrade will take place for five intersections in Dickson, the first step towards a major redevelopment of the suburbs's shopping precinct. Work on the intersections is expected to start later this year and be completed by 2017.
- A new $2.1 million Human Services Blueprint designed to make the ACT's community services more integrated and more accessible for individuals.
- A total of $8.8 million will be allocated for an additional five beds and 15.4 full-time equivalent staff within the Centenary Hospital as well as $1.9 million for community-based and outpatient care for women and children.
- Health services for women and children are set to receive a $10.7 million cash injection, with the government committing funding for more beds and staff for Centenary Hospital for Women and Children.
- Light rail could deliver 3560 jobs during the three years of construction, a jobs analysis has found, as new training courses for tram drivers, rail maintenance workers are announced.
- More than $5 million in funding will flow over three years for the territory’s National Disability Insurance Scheme trial.
- Construction is expected to begin on the new Coombs Primary School in August, with nearly $30 million to be allocated.
- The National Arboretum's events terrace will go from work in progress to a manicured lawn with $2.81 million set aside over the next four years. The gravelled events terrace had been rarely used for events.
- The ACT government will set aside $21 million to build a joint ambulance and fire station at Aranda in a bid to slash emergency response times and serve the needs of Canberra's booming northside population.
- All home buyers over 60 will have access to a stamp duty concession program, replacing the Pensioner Duty Concession Scheme. Eligible downsizers will pay as little as $20 for stamp duty for a property worth less than $595,000, and will receive discounts on the duty for homes valued up to $765,000.
- will deliver a bonus to business in today’s budget, exempting more businesses from payroll tax and cutting stamp duty for properties worth more than $1.455 million.
- The government says an extra 39 businesses will be exempt from paying payroll tax under changes included in the budget.
- People aged 60-plus will effectively be exempt from paying stamp duty when they buy a house worth up to $595,000, a change designed to encourage empty-nesters to move out of the family home and stimulate activity in the housing market.
- Canberra's proposed convention centre will receive a $1.5 million boost as Chief Minister Katy Gallagher and Treasurer Andrew Barr call for expressions of interest to get the project to investment-ready stage.
The Canberra Times will bring you all the details of the ACT 2014-15 budget online from 3pm on Tuesday, in our evening iPad update that night and in our Wednesday print edition.
Follow @CanberraTimes for more updates.