Breaking: ACT Government Releases the Territory's 2015-16 budget
Today, Chief Minister (and Treasurer) Andrew Barr released ACT’s 2015-16 Budget. Standing in a sea of red thanks to Mr Fluffy, Federal Government Department cutbacks and an unusually fast-approaching tram, it was always going to be interesting to see how the ACT Government was going to pitch its financials for the next 12 months.
The underlying figure is a $407 million deficit for 2015-16, but with a forecast of returning to surplus three years later with a tiny $50 million in the black.
As expected, Canberrans will cop higher rates, car rego and parking fees across the Territory. With these funds, the Chief Minister has outlined the vision of his first budget as Chief Minister and Treasurer:
“This budget is a clear statement of the values this Government holds. We stand up for Canberra against the Commonwealth’s savage cuts, and we will continue to use the budget to safeguard jobs for Canberra, to support our local businesses and grow our economy. We are proudly continuing to build new infrastructure, and plan for the Canberra of tomorrow through major long-term projects. We are proudly spending more than any government before us on renewing our hospitals, schools, roads and local services.”
You can read summaries and details of the 2015-16 ACT Budget here.