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Whether the motivation is global competiveness, business strength, or individual prosperity, we know the wish list for the 2018 Federal Budget announcement looks different depending on which way you look at it.
Australian agriculture and food production have endured tough conditions in recent years, but there was a lot for both industries to be happy about in this year’s Federal Budget.
The Australian biotechnology sector was looking for two things from this year’s budget — the retention of the R & D Tax Incentive and some certainty about future Government funding.
After a four year-freeze on Medicare rebates any thawing will no doubt be welcomed by GPs and specialists. However as practices across Australia crunch the numbers it will quickly become clear the rebate defrost will not significantly add to the bottom line.
The full funding of the National Disability Insurance Scheme (NDIS) was one of the key calling cards for the Government in this year’s budget.
Housing affordability was a central theme for the real estate and construction sector in this year’s budget. What was obvious from the budget announcements is how few levers the Commonwealth Government has available to address housing affordability.
Recent budget announcements will see residential care providers struggle to remain viable. While there was some good news with the announcement of 1,286 new places and increased viability supplements for rural and remote providers, this will mean little to the large number of providers already operating on slender margins.
The 2016/17 Federal Budget is a step in the right direction to recognise and support growth for Australia’s 54,000 mid-size businesses. Read our detailed commentary here.