BUDGET 2024: DELIVERING FOR BALLARAT

The Albanese Labor Government’s 2024 Budget provides cost of living relief for people in the Ballarat region and invests in a Future Made in Australia.

This is a Budget for every Australian and for everyone in our community.

Tonight’s Budget delivers new help with the cost of living for everyone, including:

•              Tax cuts for every Australian taxpayer from July 1;

•              A $300 energy rebate for every household and rebates of $325 to eligible small businesses;

•              Wiping around $3 billion from student HECS debt;

•              Kickstarting the construction of more homes in every part of the country;

•              Cutting the prices of more common medicines through our cheaper medicines policy;

•              Providing a better deal for every working parent by paying superannuation on top of paid parental leave.

Importantly, the new cost of living relief we have delivered in this Budget builds on our work to take pressure off people without adding to pressure on inflation.

65,000 people, every single taxpayer in the Ballarat electorate, will receive a tax cut on 1 July and the average tax cut for taxpayers in our community will be $1435.

This budget makes the HECS-HELP system fairer. The Albanese Government’s changes to HECS-HELP mean that HELP debts will never grow faster than wages. Our changes will support 18,829 people in Ballarat who have a HELP debt. 

Nearly 1 million Australian households will be supported with a $1.9 billion investment to increase the maximum rate of Commonwealth Rent Assistance by 10 per cent. This change will benefit 6,660 households in Ballarat. This builds on the Government’s 15 per cent increase which commenced in September 2023, and (combined with indexation) will take maximum rates over 40 per cent higher than in May 2022.

For the 4,928 NDIS participants and their families living in the Ballarat electorate this budget provides $468.7 million to support people with disability and get the NDIS back on track.

This Budget also provides an additional $18.7 million of funding for the Ballarat Intermodal Freight Hub, taking the total Albanese Government investment to $27.8 million. The additional funding means that this important project for BWEZ, and the Ballarat region, can now actually be delivered.

The 2024 Budget also supports Councils by locking in increases to local roads funding with the progressive doubling of the Roads to Recovery Program.

The total allocation over 5 years for City of Ballarat Council will be $13,489,608, for Hepburn Shire Council it will be $8,525,731, Golden Plains Shire Council will receive $11,736,208 and Moorabool Shire Council $11,279,026.

This is a Budget to train more tradies, build more homes, boost bulk billing and give more Australians a crack at university or TAFE.

Our Budget is investing in a Future Made in Australia, the transformative opportunities of clean energy, new technology, strengthening our defence industry and capability, and investing in strategic industries.

Because of our responsible economic management, the Government has been able to forecast a second consecutive Budget surplus.

This year’s Budget also builds on cost of living measures the Government has already taken, such as cheaper child care, cheaper medicines and fee-free TAFE.

Quotes attributable to Member for Ballarat Catherine King

“I’m proud of this budget. We know that people in our community are doing it tough and this Budget delivers real cost of living help. This is a responsible budget that eases the pressure now and invests in the future.

“When we were last in government, the now Prime Minister announced funding for the Ballarat Intermodal Freight Hub. The additional funding in this budget will now make this important project a reality.

“This Budget is really about the two things that have driven our Government for two years – acting on cost of living and making our future here.”