Earlier this year I delivered the 2011-12 ACT Budget. It’s a Budget that is fiscally responsible, and will return the Territory to surplus in 2013-14 as planned.
Despite the difficult budget environment, we have been able to prioritise services to the community, provide additional assistance to low income households and continue to support the development of our city as we approach our second century.
The 2011-12 Budget contains;
* Recurrent initiatives with a net impact of $266.5 million over four years for targeted investments in health care, schools, community safety and municipal and community services; * Savings to reduce the cost of administration by $150.7 million over four years by streamlining the public service, reducing costs and duplication and increasing productivity; and * $885 million over four years on new works for building the city’s infrastructure, providing critical support for local jobs, long term certainty for the private sector and at the same time deliver for our community high quality public infrastructure, ICT and plant and equipment for the future.
While it was a difficult Budget to finalise, ultimately it is a sensible and measured Budget which seeks to balance demand for additional services with the need to return to surplus.
For more on the 2011-12 Budget go to www.treasury.act.gov.au