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2018 Federal Budget Summary

The 2018-19 Federal Budget provides a range of benefits for the ACT Region, including new funding for road infrastructure, investment in Commonwealth agencies, as well as modest investment in our national institutions.

The budget’s focus on tax cuts will assist consumption driven growth and there's an extension of the 10 Year Enterprise Tax Plan to a greater number of small businesses.

Additionally, there are a number of initiatives within the budget where Canberra businesses and institutions will have significant capability and competitive advantage. These include investment in information technology, space, medical science, defence industries, tourism marketing and export growth. The Canberra Business Chamber seeks to support businesses in accessing these opportunities.

Overall the budget supports ACT industry growth through regional infrastructure, workforce development, tax concessions and investment in high value sectors. Unfortunately, the Government’s continued push toward decentralisation creates uncertainty in the ACT economy.

ACT Region-Specific Budget Announcements

  • $100m to upgrade the Barton Highway.
  • $100m to upgrade the Monaro Highway.
  • $16.6m over three years to contribute towards capital maintenance of the National Gallery of Australia.
  • $48.7m over four years to commemorate the 250th Anniversary of James Cook’s first voyage to Australia.
  • $13.1m over four years for the Australian War Memorial to enhance its digitisation program and support core activities, as well as funding for development of a detailed business case for a gallery master plan.
  • A net increase of 912 full-time equivalent non-military APS staff.
  • Annual increases in paid parking on national land, with the revenue to be reinvested in capital works by the National Capital Authority.

Source: Canberra Business Chamber

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