Page 2219 - Week 08 - Tuesday, 4 June 2013
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As such, the Territory is well placed to meet the challenges posed by continuing global economic uncertainty, restrained Commonwealth spending, and the prospect of deep cuts to the federal public service.
But we need to act prudently and act for the long term.
The Government is restructuring the Budget to support our economy and to meet future priorities for the transformation of Canberra.
This Budget cements reforms such as DisabilityCare and the National Education Reform Agreement, and continues investment in vital infrastructure such as new health centres and schools.
It progresses new and transformational projects, notably the University of Canberra public hospital, Capital Metro and City to the Lake, and delivers significant projects such as the Majura Parkway.
We are returning to a balanced budget in a measured way, to ensure we can continue to provide high quality services and create the capacity to invest in the infrastructure that will transform our city.
Importantly, these transformational projects will create thousands of jobs.
Conservative states such as New South Wales, Victoria and Queensland have slashed their public service. And the Coalition, if elected nationally, has promised to cut at least 12,000 Commonwealth public service jobs directly from Canberra.
Our priorities are different.
Despite tight global economic times and our fiscal consolidation and reform—this Budget maintains the size of the territory public service.
And it lays the foundations for the creation of thousands of private sector jobs over the next decade.
Budget principles
The Budget balances the short term and long term, and fiscal discipline with support for our community.
Discipline in this and coming budgets will allow us to fund productive new infrastructure.
Making savings, and reforming taxation, contribute to a balanced budget.
Net new spending of $127.7 million over the next four years is offset against savings of $142.6Â million over the same period.
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