Copy
View in your browser
2020-21 Federal Budget Update
 
7 october 2019
WALGA
Federal Budget Update

Good afternoon,
 
Yesterday evening, the Federal Treasurer Josh Frydenberg handed down the 2020-21 Federal Budget.
 
ALGA have prepared fact sheets on those topics that are most relevant to Local Government, including Local Government Financial Assistance Grants and Local Government road financing. These fact sheets can be accessed here.
 
ALGA’s media release on the Budget can be accessed here.
 
Federal Budget Key Points:

  • GDP is expected to decline by -1.5% in 2020-21, before returning to growth of 4.75% in 2021-22.
     
  • Deficits are now expected over the forward estimates period, highlighted by a deficit of $213.7 billion in 2020-21. Net debt is expected to reach just below $1 trillion in 2023-24 (43.8% of GDP).
     
  • WA will receive $1.1 billion over the forward estimates period for priority road and rail projects. This is highlighted by:
    • $227.1 million for METRONET
    • $87.5 million for the Reid Highway Interchange with West Swan Road
    • $80 million for the Wheatbelt Secondary Freight Network
    • $75 million for the Canning Bridge Bus Interchange
       
  • WA will received $284 million over two years for the delivery of small scale road safety projects, such as road widening, centre lines and barriers.
     
  • Key initiatives for Local Governments include:
    • An additional $1 billion for the Local Roads and Community Infrastructure Program, which must be spent by 31 December 2021 under a ‘use it or lose it’ provision
    • $207.7 million for Round 5 of the Building Better Regions Fund, with $100 million dedicated to tourism related infrastructure
    • $28.1 million for Round 6 of the Stronger Communities Program
    • $30.3 million extension to the Regional Connectivity Program

If you have any further questions on the Federal Budget, email Policy Manager, Economics, Nebojsha Franich, .

WALGA
ONE70, LV1, 170 Railway Parade,
West Leederville, WA 6007
PO Box 1544, West Perth, WA 6872
Tel: (08) 9213 2000 | Fax: (08) 9213 2077
Email: info@walga.asn.au
www.walga.asn.au
© Copyright Western Australian Local Government Association 2014






This email was sent to <<Email Address>>
why did I get this?    unsubscribe from this list    update subscription preferences
WALGA · ONE70, Level 1, Railway Parade · West Leederville, WA 6007 · Australia