The Morrison-McCormack Government’s Economic Recovery Plan for Australia will create jobs, rebuild our economy and secure Australia’s future, including in the electorate of Cowper.
Under our plan, taxpayers in Cowper will get a tax cut backdated to 1 July this year.
“This means more money in the pockets of local households to assist with the cost of living, but also to help generate economic activity and create jobs,” Federal Member for Cowper Pat Conaghan said.
“The tax relief is worth an additional $17.8 billion, including $12.5 billion over the next 12 months, and will bring forward Stage 2 of our tax plan as well as a one-off $1,080 offset for low-and-middle income earners.”
The Budget announcements build on the Morrison Government’s unprecedented investment in the health and economic response to COVID-19.
By bringing the Budget back to balance for the first time in 11 years and maintaining our AAA credit rating we entered the crisis from a position of economic strength, providing us with the fiscal firepower to respond when we needed it most.
Since the onset of the pandemic, the Government has provided $257 billion in direct economic support to cushion the blow and strengthen the recovery.
The 2020-21 Budget commits a further $98 billion including: $25 billion in direct COVID-19 response measures and $74 billion in new measures to create jobs.
“We’re supporting Australians to get back to work and businesses to rebuild, grow, and create jobs,” Mr Conaghan said.
“I will communicate further about how this Federal Budget will support businesses, but for now I want to thank the Treasurer Josh Frydenberg for providing tax relief for more than 11 million Australians.”
PRD Real Estate Coffs Harbour Principal Damien Campbell said his staff were jovial this morning at the news of keeping more of their wages for themselves.
“The tax cuts provided by the Federal Government will allow all of us to spend more money in the community, which I something I think we all need to do to help local businesses get back on their feet,” Mr Campbell said.
“For me, the tax cut I will receive will encourage me to hook up the caravan and get out and see more of New South Wales. I am thinking my next trip will be down towards Lake Conjola on the South Coast.”
Media contact:
Liz Spry – 0418 928 744
