OUR PLAN SECURES THE LOCKYER VALLEY’S COVID-19 ECONOMIC RECOVERY
A BUDGET TO SECURE JOBS, BUSINESSES, AND INDUSTRY IN THE LOCKYER VALLEY:
- TAX CUTS
- BUSINESS INVESTMENT INCENTIVES
The Morrison Government’s 2021 Budget is a plan to secure the Lockyer Valley’s economic recovery and create more jobs, to ensure we come back stronger from the COVID-19 induced recession.
Federal Member for Wright, Scott Buchholz said the Government’s plan to secure the economic recovery will create more jobs, rebuild the local economy, and set the Lockyer up for the future.
“Our plan is about providing tax relief to Lockyer residents households and small businesses, extending our business incentives so business can invest and create jobs and of course continuing our $110 billion infrastructure investment program,”
“To secure Australia’s recovery the Budget provides an additional tax cut to around 67,000 people in the region, $1,080 for individuals or up to $2,160 for couples.
“That’s more money in our local economy, supporting jobs and small business,” Mr Buchholz said.
To support further job creation the Morrison Government will extend temporary full expensing and the loss carry-back measure announced in last year’s Budget for another year.
“Our business investment incentives will allow more than 99 per cent of businesses to deduct the full cost of eligible depreciable assets of any value in the year they are installed until 30 June 2023.
“Locally that is some 26,200 businesses in the region who can write off the full value of any eligible asset they purchase – for our farmers, that might be a tractor and for our tradies that’s a ute,” Mr Buchholz said.
As part of the Budget, the Government announced a further $1 billion for the Road Safety Program and additional $1 billion for the Local Roads and Community Infrastructure program.
Mr Buchholz said that was more money for roads and infrastructure in Queensland.
“The Liberals and Nationals are building the infrastructure our community needs, with a record 10-year $110 billion infrastructure pipeline.
“That’s a further $203.4 million for local road and community infrastructure projects, and $261 million for road safety projects in Queensland.
“Here in the Lockyer there is $1,854,158 in new LRCI funding for our local community,” Mr Buchholz said.
The Morrison Government is doubling its commitment to the JobTrainer Fund to support a further 163,000 new training places to upskill job seekers and meet skills shortages.
“The JobTrainer Fund is already supporting 1,390 apprentices in our community and these new measures would mean more apprentices and trainees – especially for young people,” Mr Buchholz said.
The Budget also funds more than 170,000 new apprenticeships and traineeships, 5,000 higher education short courses and 2,700 places in Indigenous girls’ academies to help them finish school and get a job.
“The Morrison Government’s comprehensive economic plan will create jobs and secure Australia’s recovery,” Mr Buchholz said.
For more information, visit: www.budget.gov.au.