Government

SA Government responds to Federal Budget, focusing on major financial relief and infrastructure boosts for SA

South Australians are poised to see substantial financial relief as a result of the newly announced Federal Budget, which includes measures aimed at providing immediate and significant relief from rising costs of living.

South Australians are poised to see substantial financial relief as a result of the newly announced Federal Budget, which includes measures aimed at providing immediate and significant relief from rising costs of living. According to Stephen Mullighan MP, Treasurer of South Australia, the budget’s allocations will bring welcome changes, particularly for middle to lower-income brackets, as they incorporate tax cuts and additional benefits like energy rebates and rent assistance increases.

The Malinauskas Government has shared a statement, welcoming:

  • A 10 per cent increase in Commonwealth rent assistance;
  • $3 billion to deliver cheaper medicines;
  • The waiving of $3 billion in student loans under the Higher Education Loan Program providing debt relief for students;
  • $2.8 billion to strengthen Medicare including $882.2 million to support older Australians avoid hospital admission or be discharged from hospital earlier;
  • $1 billion in 2023-24 to fund urgent and significant enabling infrastructure to increase housing supply. 

In the extensive measures outlined, Mullighan has highlighted that South Australian workers can anticipate effective tax relief through the implementation of stage three tax cuts, which will save the average worker nearly $1,900. To further alleviate financial pressures, approximately 800,000 households in the state are expected to benefit from a $300 energy rebate, aimed at mitigating the climbing costs of utility bills.

Another significant enhancement addressed by the Federal Budget is a 10% increase in Commonwealth rent assistance, designed to support those struggling with the rental market. This comes alongside a range of healthcare benefits, including $3 billion allocated for cheaper medicines and $2.8 billion aimed at strengthening Medicare services. Older Australians in particular are expected to benefit from $882.2 million dedicated to either preventing hospital admissions or facilitating earlier discharges.

In addition to these direct relief measures, the budget also focuses on alleviating student debt by cancelling $3 billion worth of Higher Education Loan Program obligations. For the housing sector, the budget introduces a commitment of $1 billion in 2023-24 to urgent infrastructure, enabling an increase in housing supply.

For infrastructure, South Australia secures funding that surpasses its population share, signalling a strong federal confidence in the state’s management and proposals. This includes reconfirmed support for the $15.4 billion Torrens to Darlington project and reinstated funds for crucial interchange upgrades at Mt Barker and Verdun.

Transportation improvements are further supported by a $100 million allocation for the South Eastern Freeway Upgrade, aimed at enhancing the commuting experience and traffic flow.

The budget’s provisions for education and workforce development are particularly robust, highlighting the federal government’s commitment to the naval defence and construction industries with $101.8 million set aside for workforce development. Parts of this funding are earmarked for new initiatives to be delivered through the Skills and Training Academy at Osborne, focusing on supporting the construction of nuclear-powered submarines.

A substantial investment of $566.1 million to map critical mineral resources could provide a substantial boost to mining development in South Australia, potentially leading to new opportunities and job creation within the industry.

Stephen Mullighan said “The budget’s focus on cost of living relief will be welcomed by workers receiving the stage three tax cuts, households getting energy bill relief and increases to rent assistance and cheaper medicines. The Malinauskas Government also welcomes the reinstatement of interchange projects at Mt Barker and Verdun which will provide meaningful improvements for motorists and residents.”

More News

To Top