none

BUDGET COOPERATION BODES WELL

15-09-2016
by 
in 

The Omnibus Savings Bill has recieved bipartisan support, pushing forward $6.3 billion in savings and demonstrating a strong level of bipartisan co-operation between the Labor and Liberal governments.

With the two parties finely balanced, the consensus reached by both is a welcome relief as many of the proposed changes have been held back by parlimentary disagreements and delays.

In total, the budget features 24 savings measures 20 of which were agreed on by both parties. These influde a smaller-than-anticipated cut for the Australian Renewable Energy Agency (ARENA), a cut to the baby bonus, and a hold on the cuts to Newstart, the aged pension, and the disability pension.

Opposition Leader Bill Shorten said that his party had "forced the Government to capitulate on one of their signiature policies," namely the cuts to Newstart and pensions.

Prime Minister Malcolm Turnbull focused on the Government's capability for negotiation, stressing that "bipartisan support for a responsible approach to the Budget can help deliver positive results for the broader Australian community."

As Labor had previously been in opposition to approximately half of the $6 billion in savings and cuts, reaching a consensus on the majority of the budget, including some of the biggest-hitting savings, demonstrates the strength of a united and cooperative government.

"The agreement between the Government and the Opposition on the Budget Savings (Omnibus) Bill is an important start on the road to budget repair – and a good sign for the willingness of our leaders to work together in the national interest," Australian Industry Group Chief Executive Innes Willox said.

Related news & editorials

  1. 25.05.2018
    25.05.2018
    by      In
    The global space industry has undergone a major transformation since astronauts first walked on the Moon in the late 1960s. Half a century later, it is more appropriately known as the global space economy.
    Whereas once space was the domain of governments alone, now it attracts a massive private... Read More
  2. 21.05.2018
    21.05.2018
    by      In
    This year’s federal budget was delivered during National Manufacturing Week. Apart from that coincidence, however, the budget had almost no connection to Australia’s manufacturers.
    There is certainly nothing in it resembling a plan for the future of the sector, or any recognition of the importance... Read More
  3. 15.05.2018
    15.05.2018
    by      In
    South Australia is looking to follow the blueprint of neighbouring export powerhouse New Zealand in a bid to turn its economy around.
    Steven Marshall’s Liberal Government won the March 17 state election, and Marshall has vowed to lower taxes, streamline approval processes and grow exports.
    Several... Read More
  4. 07.05.2018
    07.05.2018
    by      In
    Making the tax system work for everyone is one of the most important tasks facing any government.
    Governments need to collect enough revenue to fund all their activities, from infrastructure spending to provision of healthcare and education.
    They need to ensure that the tax burden is fairly... Read More