The Coalition is boosting infrastructure spending to $100 billion over the decade. A list of projects was announced, covering all States. The government announces a skills package costing $525 million. This will create 80,000 new apprenticeships. The incentive payment to employers is doubled to $8,000 per placement. These new apprentices will also receive a $2,000 incentive payment.
The government is establishing a $20 billion medical research fund. There is also more than $400 million in the Budget for Genomics Research to further unlock the secrets of DNA.
The Budget also includes a $3.5 billion climate solutions package. $2 billion of this will go to practical emission reduction activities, working with farmers and Indigenous communities.
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Conclusion
While no one was looking, Australian export commodity prices have been rising over the last three years. This has generated a larger increase in Federal government revenue than anyone suspected. This has allowed the government to balance the Budget, at the same time as providing tax cuts and handouts just before election time.
This Budget has also allowed one of the better crafted Treasurer's addresses in recent years. This is not just an election Budget. This is the opening speech of an election campaign.
This article was first published by Morgans.
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