Treasurer's Message
Through the Budget we are making a record investment in health, building on our record of delivering quality services and new infrastructure. This supports our commitment to make sure all Canberrans have access to high quality public healthcare, where and when they need it, and responds to growing demand and increased costs to support our local hospitals.
In recent years, facing extraordinary challenges like a pandemic and natural disasters, the ACT Government stepped in to support the community and support business and the impact on the economy. The Government also used the Budget to extend important relief to support cost of living in the inflationary period that followed.
Today our economy is very strong, with growing wages, lower inflation and the lowest unemployment rate in Australia. With inflation and interest rates coming down, this now provides the foundation to get the Budget on a more sustainable footing.
As a responsible Government, we will continue to invest in the high level of services Canberrans enjoy whilst also addressing the fiscal pressures that we face. Our commitment is to invest in the future of Canberra and embrace the opportunities it provides us.
This Budget delivers on our commitments to the community and makes important progress on our ambitious reforms to support more housing. As we work to enable 30,000 new homes in Canberra by 2030, we will build more homes, with more choice for all Canberrans.
The importance of having a home cannot be understated. It provides the foundation for so many aspects of a person’s life - for health, education, work, family and so much in between.
That’s why this Budget advances work to deliver more housing diversity and more affordable housing, whether you’re a first home buyer, ageing in place or supporting a growing family.
The Budget further invests in our local construction industry to drive this commitment with more investments in skills and education, to boost productivity and provide the next generation with good, secure, well-paying jobs.
Our significant pipeline of major infrastructure projects will continue, including new cultural and sporting investments, like a new Canberra Aquatic Centre at Commonwealth Park, the future Canberra Convention and Entertainment Centre and Precinct, and the Canberra Theatre Redevelopment. We are investing in further work to progress a new northside hospital, provide more investments in public and active transport including light rail, more electric buses, safer roads and better walking and cycling infrastructure.
The Budget provides more targeted cost‑of living relief and invests in the community for the future, so that Canberrans who need it most don’t fall behind. This includes recognising the important role of our community sector with more support so they can continue their mission for our most vulnerable Canberrans.
Our youngest Canberrans and their families will benefit from our strong foundational investments in education and early childhood, from three-year old pre-school to further investments in public school infrastructure across our city, and in our growing suburbs.
The future for Canberra is bright, a city of opportunity and growth. By making these decisions now, we will ensure that current and future generations enjoy the same high quality of life our city is known for - the world over.
Chris Steel
Treasurer