Kate Chaney MP says sensible Budget takes a step in the right direction (25 October 2022)

Kate Chaney MP says the Government’s Budget is responsible and sensible in this challenging economic climate, with much needed cost of living support staggered over the coming years to reduce impact on inflation. But she was hoping to see broader tax reform and a stronger commitment to a wellbeing economy. 

Families across Curtin will be pleased to see additional investments in education, aged care, childcare and paid parental leave. 

WELLBEING ECONOMY 

“While I applaud the Government for including discussion of a wellbeing framework in the budget, progressing this will require an open, collaborative process, not something produced by Treasury with input only from the ‘experts’. 

“Government must engage with communities across the country to find out what kind of Australia we want. What matters to us? 

“This collaborative process is important, not only to ensure that our framework reflects the things that we value, but also rebuild trust and engagement in our democracy.” 

Ms Chaney noted that this was the first budget in which climate change was viewed as both an opportunity and a threat. 

“Setting the target in the Climate Change legislation was the first step, and now in this Budget we see some of the work beginning to drive decarbonisation and adaptation, and ensure we have the governance structures needed to plan for the future. 

For WA, investment in critical minerals downstream processing is a key economic opportunity. Ms Chaney welcomes the investment of $1bn in a Value Adding in Resources Fund, $50m to for critical minerals R&D Hub and $100m to assist producers to progress critical minerals projects. 

With every further natural disaster, community support for investing in mitigation and adaption will grow. Maintaining fossil fuel subsidies across the forward estimates will become less tenable. 

THE NEED FOR TAX REFORM 

Ms Chaney urges the Government to consider broader tax reform in subsequent Budgets. Apart from closing loopholes on multinational tax dodgers, which is expected to raise about $4.7 billion, there is minimal real tax reform in this Budget. 

“We need a broader tax review to ensure we can continue to pay for the things people expect over the next few decades. 

“We remain too reliant on personal income tax and need to consider shifting the balance towards other sources, including consumption tax and alternative approaches to resources taxes,” Ms Chaney said. 

ACCOUNTABILITY 

While there is further work to be done to improve transparency on grant allocation, reform has started, with the Commonwealth Development Grants and Round 6 of the Building Better Regions Fund being scrapped and decisions previously made by the Coalition at the discretion of the then Minister being reviewed. 

“I am pleased to see the National Anti Corruption Commission is being appropriately funded. It is important that a significant portion of this is available in the first year when it’s being established,” said Ms Chaney. 

CURTIN 

Ms Chaney is delighted the Government has committed to spending $375 million on Perth’s first Comprehensive Cancer Centre which will be built in Nedlands, in her electorate of Curtin. 

“This is an essential service that we have been waiting for, for too long. This centre will make a huge difference to those who need support and care at the scariest time of their life”. 

Ms Chaney said she would continue to advocate for her electorate to receive federal funding for important local projects. 

For anything further please contact Joanna Trilling - 0421 351 579