Josh Frydenberg announced his first federal budget overnight.
The Treasurer announcing a forecast $7.1 billion dollar surplus next financial year, in what has been widely proclaimed as a pre-election budget with plenty of sweeteners.
There's a tax cut of just over $1000 for millions of Aussies, while the asset write-off for Small business has increased from 25 to 30 thousand and will now be available to companies with a turn-over of up to 50 million.
You're probably wondering what budget announcements affect us here on the Central Coast.
Lucy Wicks has announced funding for multiple local projects recently, including:
- $8.25 million for upgrades to Umina sport's facilities, including a complete redevelopment of Umina Skate Park, new clubhouses for the Umina Bunnies, Southern Spirit Cricket and Umina United Soccer Club.
- $35 million for commuter car parking at Woy Woy and Gosford.
- $3.8 million for a much needed new radiation machine at Central Coast Cancer Centre in Gosford, which would prevent many patients from having to travel to Sydney or Newcastle for treatment.
Permitting the Liberal Government is re-elected at the forecasted May Federal election.
On the other side, Labor's candidate for Robertson Anne Charlton has welcomed the tax cuts but says people earning under $40,000, which includes many Coasties, are missing out.
Anne Charlton also says the budget is under-whelming and thinks Lucy Wicks should have made commitments for no more cuts to Medicare, hospitals, schools and Tafe.