The Morrison Government’s Economic Recovery Plan for Australia will create jobs and rebuild our economy – securing Australia’s future, and the future of the Gold Coast.
Under our plan, lower and middle income earners will this year receive tax relief of up to $2,745 for singles, and up to $5,490 for dual income families, compared with 2017-18.
Member for McPherson Karen Andrews MP said bringing forward tax cuts meant more money in the pockets of local households.
“Gold Coasters are passionate about supporting local businesses and buying local. This tax relief will assist with the cost of living, but also to help generate economic activity and create jobs,” Mrs Andrews said.
“We are also creating jobs through record manufacturing and infrastructure investment to support our post-COVID economic recovery.”
The 2020-21 Budget commits an additional $1.3 billion of Government funding for land transport infrastructure projects in Queensland over the next decade, including $750 million for the first stage of the Coomera Connector (second M1).
“700 direct jobs will be supported through the construction of this congestion-busting corridor between Nerang and Coomera, with the project due to begin in 2021.
“Once complete, it is expected to divert up to 60,000 vehicles per day from the M1, helping to get locals home sooner and safer.”
Mrs Andrews said $2 million is also being invested in upgrading the busy intersection of Currumbin Creek Road and Bienvenue Drive in Currumbin Waters.
“This project will reduce congestion and improve road safety, while supporting 16 direct jobs.”
Our sovereign manufacturing capability has also received a significant boost, through the $1.5 billion Modern Manufacturing Strategy.
“Manufacturing is the Gold Coast’s third largest sector by output – behind tourism and hospitality – with 2,700 manufacturers employing more than 14,000 locals.
“As Industry Minister, I have absolute faith that our Aussie manufacturers will ensure we have an internationally competitive and resilient sector, and in the process create more high value jobs.”
Unlike the State Labor Government, the Morrison Government has not forgotten about the struggling tourism industry.
“The Gold Coast’s tourism sector has faced the dual blows of COVID-19 and Queensland’s stubborn approach to border closures,” Mrs Andrews said.
“That’s why $10m from our $50m tourism fund will be invested into the Gold Coast – to lure more domestic visitors by adapting products, experiences and marketing campaigns.”
The Budget announcements build on the Morrison Government’s unprecedented investment in the health and economic response to COVID-19.
By bringing the Budget back to balance for the first time in 11 years and maintaining our AAA credit rating – we entered the COVID crisis from a position of economic strength, providing us with the fiscal firepower to respond when we needed it most.
Since the onset of the pandemic, the Government has provided $257 billion in direct economic support to cushion the blow and strengthen the recovery. This includes $10.7 billion in JobKeeper payments and $5.4 billion in cash flow boost credit amounts to Queensland residents and entities.
The 2020-21 Budget commits a further $98 billion nationally including: $25 billion in direct COVID-19 response measures and $74 billion in new measures to create jobs.