Geelong residents are set to benefit from moves to address the rising cost of living, but there was little other benefit to the region in the federal budget, according to Corio MP and deputy opposition leader Richard Marles.
Treasurer Josh Frydenberg on Tuesday handed down the budget, which included several short-term measures to address cost of living pressures.
Among those was a six-month cut to the fuel excise – from 44.2 cents per litre to 22.1 – which Mr Frydenberg said would see fuel prices drop.
“A family with two cars who fill up once a week could save around $30 a week or around $700 over the next six months,” Mr Frydenberg said.
The budget also included a one-off $420 tax break for people earning less than $126,000 per year added to the low and middle income offset from July 1.
Welfare and pension recipients, veterans, concession card holders and some self-funded retirees will also receive a one-off $250 payment to help with cost of living.
“This budget’s new cost of living package is responsible and targeted, delivering cheaper fuel, cheaper medicines and putting more money in the pockets of millions of Australians,” Mr Frydenberg said.
G21 Geelong Regional Alliance chief executive Giulia Baggio welcomed the relief measures.
“The increase in the cost of living is felt very acutely in the G21 Geelong region,” she said.
“Our communities are very car dependent and the sharp rise in petrol prices puts immediate stress on household budgets. This leaves fewer dollars to cover the rising cost of food, housing and other essentials.
“The immediate budget relief is welcome. We hope to see a commitment to longer term solutions when the election campaign gets underway.
“In particular, our growing communities are calling for heavy investment in a variety of transport infrastructure to give people the option of using public transport, to cycle or walk, all of which are very limited at the moment.”
Ms Baggio also welcomed the extension of the First Home Guarantee Scheme and the introduction of a regional scheme.
“The need for affordable, key worker and social housing across Geelong and the G21 region is significant,” she said.
“A lack of affordable housing is causing chronic staff shortages for our businesses and service providers. We also have 883 people experiencing homelessness and 5000 people reporting rental stress.
“The [regional housing guarantee] scheme is a good start but will need to be topped up to meet our region’s surging property prices and delivered on a greater scale to alleviate the affordability crisis in many of our communities.”
However Ms Baggio said it was disappointing the $7.1 billion Regional Investment Package in agriculture, infrastructure, water and energy would only support communities outside Victoria.
Mr Marles said there was very little in the budget that would benefit Geelong residents.
“This will be a budget that many in Geelong are disappointed by,” he said.
“There is no investment by Scott Morrison and the Liberals across Geelong and the region.
“Instead, what we have learnt is that real wages have gone backwards – for the average family by $26 a week.
“It is no wonder families are finding it harder to make ends meet.”
However Victorian senator Sarah Henderson said there were significant funding commitments in the budget that would create jobs and drive economic growth in Geelong.
“One of the highlights of the Morrison Government’s Budget is the very major support for the regions, delivering the projects and infrastructure that make regional towns and cities better places to live, work and visit,” she said.
“This year’s budget includes significant new funding for existing programs that drive the growth and success of regional towns and communities.
“We are investing an additional $500 million in the Local Roads and Community Infrastructure (LRCI) Program, a major boost to communities across the country.
“This funding will support more community infrastructure projects, boosting local jobs and driving the economic growth to make our nation as strong as possible as quickly as possible.”
She also said a further $22.7 million had been committed for an additional round of the Stronger Communities Programme (SCP), delivering more funding for small capital projects that would be available to Geelong.
City of Greater Geelong deputy mayor Trent Sullivan said there were some encouraging commitments in the budget and the City would look for more targeted funding in the lead-up to the election.
“The budget recognises that many households are struggling with cost-of-living increases, and there are several short-term initiatives that will assist in this area,” he said.
“There is also some encouraging incentives for businesses to upskill their employees and invest in digital technologies.
“We also welcome ongoing funding for key infrastructure projects in the region, which are being delivered via the landmark Geelong City Deal.
“Securing federal support to deliver the infrastructure our rapidly growing communities need remains a key focus for council.
“We look forward to seeing more targeted commitments for our region, aimed at ensuring Geelong’s long-term economic, social and environmental sustainability, in the upcoming election campaign.”
