The Marshall Government has welcomed the 2019-20 Federal Budget as a ‘major investment in South Australia’s economic future’, with a raft of key infrastructure projects, regional roads upgrades and tax cuts to lower costs and create local jobs.
Treasurer Rob Lucas welcomed personal income tax cuts for low-and-middle income earners, small business tax incentives and $525 million for a new apprenticeships and traineeships scheme which would further strengthen and stimulate economic and jobs growth in SA.
Mr Lucas said the State Government had been working closely with the Morrison Government to secure a massive $2.6 billion in funding for important infrastructure projects right across SA, including an additional $1.5 billion to help complete the crucial last stage of the North-South Corridor (in addition to the previously announced $1.2 billion).
“This will be the single biggest infrastructure project in the state’s history, and together the Morrison and Marshall governments have put $5.4 billion on the table towards completion of the final section of the North-South Corridor, between Darlington and the River Torrens,” said Mr Lucas.
“This project will be the major route for freight and commuters travelling north and south and will cut travel times and improve economic productivity, while creating thousands of construction jobs over much of the next decade.”
Mr Lucas also welcomed the landmark 10-year $551 million Adelaide City Deal designed to grow South Australia’s innovation and visitor economy, create jobs and support strategic population growth.
“This signature agreement cements Lot Fourteen on North Terrace as the most exciting innovation, defence and space site in the nation, home not only to the Australian Space Agency but to the Mission Control Centre as well as a new Space Discovery Centre,” Mr Lucas said.
“It also recognises Adelaide’s world-class reputation in culture and the arts, through funding for a new Aboriginal Art and Cultures Gallery at Lot Fourteen, construction of The Heysens at Hahndorf and a new visitor centre at Carrick Hill.”
The State Government also welcomed the Coalition Government’s funding commitment for regional roads, as well key suburban intersection upgrades (Springbank/Daws/Goodwood Rd; Portrush/Magill Rd; Cross/Fullarton Rd) and improved level crossings.
Mr Lucas said small businesses would benefit from a $21.1 million investment in red-tape reduction – part of the federal Small Business Regulatory Reform Agenda - which complemented the Marshall Government’s abolition of payroll tax for all small businesses, which came into effect on January 1, to help drive growth and local investment.