This week’s Federal Budget was a mystery for the Geelong region, according to the chief of a local lobby group.
G21’s Elaine Carbines said the true nature of the budget for the region was unlikely to be known for some time, with funding announcements possible during the coming election campaign.
“From an initial scan of the budget papers there are few new specific project commitments for our region,” Ms Carbines said.
“However, as always, the true complexion of the budget will reveal itself over coming days and weeks.
“That will be particularly so this year, with the unusual situation where the budget has been delivered so close to an expected election.
“The budget appears to contain funding for as yet unspecified local initiatives nationally.
“Much of that funding may be unveiled in coming weeks, keeping in mind election rules and caretaker government protocols.
“I look forward to the G21 region being part of any such funding announcements.”
In what was seen as a lukewarm budget, finding pros and cons was a difficult task, but Liberal member for Corangamite Sarah Henderson found a few goodies for Geelong in its voluminous pages.
“There’s great news for our region in this year’s budget with an extra $30.6 million for Corangamite roads,” Ms Henderson declared.
This included $25 million for the Great Ocean Rd upgrade, bringing total funding to $50 million.
There was also $300,000 for feasibility planning for the duplication of the Midland Highway between Geelong and Bannockburn and a similar amount for planning to duplicate Grubb Road, Ocean Grove.
There was also $1.5 million for capital works for a new Foundation 61 drug and alcohol Women’s Rehabilitation Facility.
Ms Henderson said the budget backed Geelong young people with $840 million for a national youth employment package called Youth Jobs PaTH (Prepare-Trial-Hire) Program.
On the other hand, Labor member for Corio Richard Marles was able to pick some holes in the budget.
“Malcolm Turnbull promised new economic leadership but this budget goes backwards on Tony Abbott and Joe Hockey’s best effort,” Mr Marles said.
“The deficit is $11 billion worse next year, and worse in every year of the forward estimates. The Liberals have blown out the deficit by $36 billion since the 2015 Budget.
“What’s worse is that this mess of a balance sheet is built on highly optimistic forecasts.
“When the economy is chugging along so slowly that the Reserve Bank of Australia has cut interest rates, that’s a faintly heroic assumption.”
