More budget coverage: Here
Subscribe now for unlimited access.
$0/
(min cost $0)
or signup to continue reading
We asked member for New England Barnaby Joyce what his thoughts were on tonight's budget announcement and here's what he said.
“I’m really happy with what I’ve got for Agriculture," Mr Joyce said.
“To give you an example, for those people we are assisting in the drought, we have more than 4,800 people on Farm Household Allowance. Because we have changed the criteria, we anticipate that will deliver over half a billion dollars over the next four years into regional areas.
“We have made sure we have a drought stimulus package of $35 million for the people out west – such as Brewarrina, Burke and Walgett.
“We have $25 million for wild dog and feral pest control which sits on top of the $8.5 million we have already delivered."
Mr Joyce said he was happy with infrastructure investment across the North West.
“We have got delivery for the National Stronger Regions’ fund with announcements of projects for Armidale and Glen Innes.
“We have made sure depreciation for farm capital investments have been changed and this will be a great stimulus. People will be able to build water infrastructure and grow and store fodder to prepare for drought and get major tax write-offs for their investment.
“Sheds and silos can be written off over three years and fencing can be written off over one year.
“This sits on the back of one of the greatest turn-arounds of agricultural soft commodity prices. We are seeing record prices for cattle in saleyards like Tamworth and Inverell and the same for sheep
“We’re also seeing a greater turn-around in wool and cotton prices and now we’re seeing that money coming back in to Peel, Otho, Rusden and Conadilly Streets.
“We’ve cut the tax rates for small businesses and shops so now people can keep more of their money," Mr Joyce said.
“We’ve made sure we have reinvested in child care so the mums who go to work and their partners or husbands who are at work, have a greater capacity to look after their kids.
“We’ve stayed away from superannuation and most importantly for me as an accountant; we have reduced the trajectory of debt so we are starting to get in control of the financial disaster the previous government and what they did with the finances of the nation.
“In the period between 2014/15 and 2018/19, we’ll be investing almost $44 million in Roads to Recovery including a double dip amount in the coming year.
“This sits within the work we are already doing on Bolivia Hill, Tenterfield Bypass, Armidale Airport and the work our State colleagues are doing for the Armidale and Inverell Hospitals.
“These announcements are all part and parcel of trying to make sure we get the best return for the people in the New England.”