The 2019/20 Budget shows that the Liberal/National Government is committed to securing a better future for young Australians.
Following the terrible state of our nation’s finances as a result of the previous Labor Government, the Liberal/National Government have been working to fix the mess. The 2019/20 Budget shows the result of that hard work. Within it, the Government announced the first surplus budget in 12 years, putting a down payment on Labor’s debt. By paying down this debt, the Government will put the nation’s finances on a more sustainable footing, reducing the burden for young Australians, with net debt projected to be eliminated by 2029/30.
This work is the result of a long term economic plan for Australia championed by Prime Minister Scott Morrison, Treasurer Josh Frydenberg and the Liberal/National team.
A stronger economy is good for all of us, it means jobs, growth, and opportunity. It means we can fund projects such as the Hobart City Deal. A project that, in conjunction with the Tasmanian Hodgman Liberal Majority Government, will deliver hundreds of new affordable homes for Hobart, alongside a genuine plan to fix congestion with investment in the Northern Suburbs Transit Corridor, and a Derwent River Ferry.
Of course, with businesses growing and more people at work and not on welfare, it means more tax is collected by Government, and in turn, more money for our essential services like schools, hospitals, roads and universities.
Last night the government announced that it would continue its record funding of these essential services, and focus on increasing its support in areas such as in health.
The Budget will provide $331 million for drugs on the pharmaceutical benefits scheme (PBS), to improve on the over 2000 new listings since the government came to office in 2014, and the most significant investment ever in youth mental health and suicide prevention with an investment of $461 million in the strategy, including 30 new Headspace centres, more support for Indigenous youth, and reduced waiting lists.
Together, this Budget sets out a strong plan for Australia’s future. Only six years ago when the Liberal/Nationals came to office, the economy was weakening, unemployment was rising and the budget was deteriorating. Since then, the right decisions have been made, and last night’s budget set the next stage in that long term plan to turn our nation around. The message was loud and clear: only a Liberal/National Government can ensure a stronger economy, more jobs, lower taxes and that essential services will be guaranteed, we can’t afford to go backwards again.
Thomas Bearman is the Vice-President of the University of Tasmania Liberal Club.
Photos: AAP/The New Daily