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What you missed in $8.6 billion Federal Budget cash splash

Amid $8.6 billion of spending, it's understandable some things in the Federal Budget might slip below the radar.

Beyond the headline-grabbing cost of living measures, ballooning debt and fuel relief, there's plenty of other stuff the government has to address that more rarely makes the news.

Here's some you may have missed.

$250 PAYMENTS: Who is eligible?

TWO-MINUTE GUIDE: The key Federal Budget figures

WILL I GET A TAX CUT?: The $420 offset explained

MEET THE SAUNDERS: How a hypothetical family will benefit

PROPERTY SCHEME EXPANDED: More places for homebuying program

PARENTAL LEAVE CHANGES: What it means for mums and dads

The Jubilee trees

A slice of $20.3 million has been set aside to provide three years' worth of grants for "community-led tree planting projects".

But not just any projects – these are specifically tree-plantings to mark Queen Elizabeth II's Platinum Jubilee.

The government noted that Her Majesty had planted an estimated 1500 trees during her 70-year-reign.

Every federal electorate in Australia has been allocated up to $100,000 for up to 10 grants.

New home in the Solomon Islands

The timing is probably coincidence, but the government has allocated $65.2 million across four years to build and maintain "a new Chancery" for the Australian High Commission to the Solomon Islands in the capital city of Honiara.

The budget papers noted this was "in line with the Pacific Step-Up".

However, it also comes after news that China and the Solomon Islands had settled on a deal for China to build a naval base in the Pacific nation – a move Australia has regarded with dismay.

READ MORE: PM rejects 'bully' claim after Liberal Senator's ferocious tirade

Black Summer grants extended

An extra $116.4 million will be allocated over three years through the Black Summer Bushfire Recovery Grant Program, increasing the total funding to $390 million.

The grants provide support for community projects to assist with both bushfire recovery and future resilience.

The Black Summer bushfires in 2019-20 were among Australia's worst, and many communities have not yet recovered from the disaster.

Thousands of homes were destroyed and 26 people killed.

READ MORE: 'Our worst fears have been realised': NSW floods escalate

Firefighter

War crimes investigation boost

The Office of the Special Investigator is set to benefit from $6.7 million in 2022-23 to support the investigation and prosecution of potential war crimes in Afghanistan.

The majority of the funding – $3.9 million – will go to the Attorney-General's Department to advise the OSI on international law, get legal assistance from foreign jurisdictions, and protect national security information.

The remaining $2.8 million goes to the Commonwealth Director of Public Prosecutions to provide legal advice, including training for investigators and brief preparation.

Key announcements from this year's Federal Budget.

Millions for mozzie virus

The emergence of Japanese Encephalitis in Australia has prompted a $69 million funding package across two years from the government.

This will cover 135,000 doses of vaccine, health surveillance and modelling, funding for states and territories, and a national communications campaign.

More cameras in Parliament

The government will provide $29.7 million over four years for upgraded security at Parliament House.

This will include better CCTV, upgraded screening equipment, and an "expanded" Parliamentary Security Operations Room.

After the first four years, $800,000 a year has been allocated for upkeep.

Will you get a tax cut?

Record cyber-spy package

In what's being touted as the largest intelligence and cyber-security upgrade in Australian history, $9.9 billion over 10 years is being funnelled into the Australian Signals Directorate to deliver REDSPICE.

That's the Resilience, Effects, Defence, Space, Intelligence, Cyber and Enablers package.

The government claimed it would double the ASD's size, with 1900 new jobs in the next decade.

It is also part of Australia's commitment to Five Eyes and AUKUS partners.

"REDSPICE will triple ASD's offensive cyber capabilities and double its cyber hunt and response activities, preserving ASD's capability edge and delivering strategic advantage for Australia over the coming decade and beyond," the budget paper said.

"The package will help ASD to keep pace with the rapid growth of cyber capabilities of potential adversaries, as well as being able to counter attack and protect our most critical systems."

Budget 2022 fine print reveals more pain for Aussie households

Last night's Federal Budget – depending on how you saw it – was either a cynical cash splash designed to buy votes at an election or a carefully managed response to the soaring cost of living.

In the end, it was likely that both opinions were true: A one-off $250 payment for pensioners will fill fridges and fuel tanks for a week or two, and fuel prices will ease their way out of headlines due to a cut in the fuel excise.

But the fine print of the Budget reveals that the cost of living for ordinary Australians is not going to get any better.

READ MORE: Winners and Losers of the 2022 Federal Budget

$250 PAYMENTS: Who is eligible?

WILL I GET A TAX CUT?: The $420 offset explained

Budget tax plan

Currently the headline rate of inflation (or the rate at which the cost of goods and services grows) is sitting at 3.5 per cent.

Treasury forecasts released in the Budget predict inflation will rise to 4.25 per cent by the middle of this year, before declining slightly to 3 per cent by mid next year.

In real world terms that means the cost of living will spike through winter – and some economists even think that Treasury is being conservative in its estimates.

"I do think the risks are that inflation might be higher than what the Treasury is forecasting next financial year," says Peter Munckton, Chief Economist at BOQ Group.

"They believe that the reduction in the fuel price levy will take some of the heat from inflation. It will.

"But there is plenty of inflation in the pipeline. And Government taxes is only one part of the oil price."

MEET THE SAUNDERS: How a hypothetical family will benefit

PROPERTY SCHEME EXPANDED: More places for homebuying program

According to Munckton, the Treasury forecasts all but confirm that the Reserve Bank of Australia (RBA) needs to lift interest rates this year.

"The Budget has few immediate implications for monetary policy. An economy with an inflation rate that is likely to be above 4 per cent and an unemployment rate likely to be under 4 per cent does not need a cash rate of 0.1 per cent," he forecasts.

"I now look for the first cash rate move in June, with a year-end cash rate target of 0.75-1 per cent."

As inflation rises, so too does interest rates – potentially hitting mortgage-stressed families with the double whammy of more expensive repayments and higher expenses.

"Talk from some economists of the spending initiatives in the budget driving up inflation and increasing mortgage payments are a concern," said Peter White, Managing Director of the Finance Brokers Association of Australia.

"We know that interest rates will likely rise soon anyway, but we also know that after such a long period with no rate rises, many people are not prepared.

"Therefore the Government must ensure that post-budget they do what they can to keep rates as affordable as possible."

TWO-MINUTE GUIDE: The key Federal Budget figures

PARENTAL LEAVE CHANGES: What it means for mums and dads

As for the fuel excise cuts, well some experts are doubtful that the Government will be able to enforce that savings are passed on to motorists.

"It is questionable though whether these cuts will reduce petrol prices. In the short term, the impact of these cuts will depend on what happens with global oil prices," says Hussein Dia, Professor of Future Urban Mobility at the Swinburne University of Technology.

"The fuel excise tax is a fixed amount per litre regardless of market price. So if the price of oil continues to go up, the 22 cents reduction may be eaten up quickly by the sharp increase in global petrol prices in the coming days or weeks.

"And if the war is prolonged or escalated, oil prices are expected to reach as high as $US150 a barrel, which would push petrol prices across the nation to nearly $2.50 a litre.

"There is also no guarantee that any cost reduction in fuel excise will be passed by retailers to consumers."

Stage-four breast cancer survivor broke down in tears at budget news

There were tears last night from Melbourne woman Samantha Courtney when Treasurer Josh Frydenburg made one particular budget announcement.

The medication Trodelvy will be added to the Pharmaceutical Benefits Scheme (PBS), saving patients with the rare triple-negative breast cancer up to $80,000 per treatment.

"For the first time, this drug gives hope to many young women, extending their life expectancy and providing an opportunity to spend precious time with their loved ones," Mr Frydenberg told parliament.

Samantha Courtney is one of hundreds of women who will benefit from the listing of breast cancer drug Trodelvy on the PBS.

Ms Courtney, 50, has stage four metastatic breast cancer, with tumours in both breasts, her sternum and lymph nodes.

"There were a lot of tears. It's very exciting, I'm still emotional over it," Ms Courtney said of the news.

TWO MINUTE GUIDE: The key Federal Budget figures

Ms Courtney had been on a waitlist to access Trodelvy on compassionate grounds, after her cancer came back for the third time last year.

She was first diagnosed at 39, then — eight years later — she was told by doctors she had triple-negative breast cancer.

The enormous cost of Trodelvy meant it was impossible for Ms Courtney to afford without the subsidy.

"It's just not possible when you are not able to work. I don't even own my own house so I couldn't do a re-mortgage or anything," she said.

READ MORE: How this year's Federal Budget will impact women

https://twitter.com/JoshFrydenberg/status/1508728986146578437?ref_src=twsrc%5Etfw

Ms Courtney said she had heard incredible stories and read research of Trodelvy's effectiveness at reducing tumours.

"From my own research, and from people I know in a support group I am in, it can take only three shots for tumours to go down by 33 per cent and, after a couple of months, there could be no sign of tumours," she said.

"Even not to have the pain of the tumours would be incredible because it is horrendous."

WILL I GET A TAX CUT: The $420 offset explained

Clinical trials have shown Trodelvy can extend the life expectancy of patients with triple negative breast cancer.

Ms Courtney said she had been given just 18 months to live, but now hoped to spend more years enjoying time with her close-knit family.

"If it can give me more time it would be awesome," she said.

Vicki Durston is the director of policy, advocacy and member support at the Breast Cancer Network Australia.

Ms Durston said the network was excited to hear the announcement.

"For most people diagnosed with this subtype of breast cancer the cost of this drug has been out of reach," she said.

"And the drug extends life. 

"Clinical trials have shown that there is an increase of 12 months of overall survival so people are desperate to get access to this drug." 

Ms Durston said the network was now calling on the drug company, Gilead Sciences, to open up access to the treatment as soon as possible for patients.

Budget forecasts 'more virulent' COVID-19 winter wave, restrictions

The Federal Government has raised the spectre of a more virulent mutation of COVID-19, leading to the reintroduction of nationwide restrictions in its budget documents.

The economic forecasts have been made on the assumption that further major outbreaks of COVID-19 occur later this year.

The budget papers describe two possible scenarios, the first being grimmer.

$250 PAYMENTS: Who is eligible?

An empty George Street in Sydney's CBD.

"In this scenario, a more virulent variant of concern emerges in the middle of 2022," the papers read. 

"This outbreak coincides with the winter flu season and is assumed to lead to higher numbers of cases for a longer duration and more severe illness than the initial Omicron wave. 

"As a result, at the peak of the outbreak, workforce absenteeism returns to levels similar to those experienced in January 2022."

The budget papers describe the reintroduction of restrictions.

WILL I GET A TAX CUT?: The $420 offset explained

An empty Rundle Mall during the first lockdown.

"It is assumed that baseline public health measures such as physical distancing and density limits are imposed nationally to manage the increased health risks for the duration of the outbreak. 

"Precautionary behaviour, such as reduced social mixing, and the direct impact of activity restrictions would result in weaker consumption and higher household savings than in the forecasts."

Under that scenario, unemployment would be 0.25 per cent higher than the current projection. 

TWO-MINUTE GUIDE: The key Federal Budget figures

Empty roads in Melbourne as the lockdown begins.

The second scenario is more optimistic.

"In this scenario, it is assumed that vaccines, new treatments and rising levels of immunity result in fewer cases and a more stable health environment than assumed in the forecasts," the budget papers read.

The papers also forecast the January Omicron surge, as well as the east coast floods and high petrol prices, will dampen consumption this quarter.

But those impacts are projected to recede.

"Real-time indicators suggest that the impact of the Omicron wave on consumption has been temporary and muted compared to previous waves," the papers state.

READ MORE: Winners and Losers of the 2022 Federal Budget

The high-spending budget features a series of cash splashes designed at blunting the impact of rising prices.

Six million Australians will be eligible for a one-off $250 payment to be paid next month.

PROPERTY SCHEME EXPANDED: More places for homebuying program

PARENTAL LEAVE CHANGES: What it means for mums and dads

Former Premier calls for quiet diplomacy in “fair share” matter – says PM is “a great ally” of Nevisians

By Loshaun Dixon Former Premier of Nevis and current Ambassador in the Prime Minister’s Office, His Excellency Vance Amory, has heaped praises on Prime Minister Dr. Timothy Harris and has called Harris a great ally of the people of Nevis, saying that the Prime Minister has always responded positively to anything for Nevis. Amory said […]

The post Former Premier calls for quiet diplomacy in “fair share” matter – says PM is “a great ally” of Nevisians appeared first on The St Kitts Nevis Observer.

PM Harris: Unified effort needed to save CIP

By Loshaun Dixon A united effort is needed among Caribbean territories in order to fight recent moves to block Citizenship by Investment Programmes (CIP) by the European Union, which has threatened visa restrictions to countries that offer them. The call came from Prime Minister Dr Timothy Harris, who said they have been monitoring the situation […]

The post PM Harris: Unified effort needed to save CIP appeared first on The St Kitts Nevis Observer.