Chalmers says opposition’s commitment to cut immigration impact the economy and skills base of the country. Follow the day’s news live
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Jim Chalmers is being asked by David Speers about the GST deal with Western Australia outlined in the budget, which is going to cost nearly $53bn over the next 10 years, especially given Western Australian is the wealthiest state in the country.
Chalmers defends the decision, calling it “responsible because we made the commitment and we want to make sure that Western Australia, which is such a driver, such an important contributor to our national prosperity, gets their fair share of the GST”.
Well, first of all, it doesn’t come at the expense of helping people with the cost of living. It doesn’t come at the expense of strengthening Medicare and all of other things we’re doing, investing in housing. But it’s a deal that was struck and a deal we’re committed to.
Even the deficit next year is $19bn smaller than what we inherited. We’ve been banking most of the upward revisions to revenue. We saved $150bn worth of debt this year. We’re saving $80bn in debt interest costs. Real spending growth is a fraction of what we’ve seen in the last 30 years. And all of this means that we’re getting the Budget in much better nick so we can fund cost-of-living relief and invest in the future.
Continue reading…Chalmers says opposition’s commitment to cut immigration impact the economy and skills base of the country. Follow the day’s news liveGet our morning and afternoon news emails, free app or daily news podcastJim Chalmers is being asked by David Speers about the GST deal with Western Australia outlined in the budget, which is going to cost nearly $53bn over the next 10 years, especially given Western Australian is the wealthiest state in the country.Chalmers defends the decision, calling it “responsible because we made the commitment and we want to make sure that Western Australia, which is such a driver, such an important contributor to our national prosperity, gets their fair share of the GST”.Well, first of all, it doesn’t come at the expense of helping people with the cost of living. It doesn’t come at the expense of strengthening Medicare and all of other things we’re doing, investing in housing. But it’s a deal that was struck and a deal we’re committed to.Even the deficit next year is $19bn smaller than what we inherited. We’ve been banking most of the upward revisions to revenue. We saved $150bn worth of debt this year. We’re saving $80bn in debt interest costs. Real spending growth is a fraction of what we’ve seen in the last 30 years. And all of this means that we’re getting the Budget in much better nick so we can fund cost-of-living relief and invest in the future. Continue reading…