Meeting our commitments
Mr Speaker, this Budget honours the Government's commitments, and allows us to look Australians in the eye and say we delivered the policies they voted for last November. We are doing what we said we would do.
We are providing new leadership in education, health, infrastructure, climate change and modernising the federation, to end the blame game.
And we will begin tackling the big challenges on Australia's horizon, by providing long‑term plans, not short‑term bandaid fixes.
Education Revolution
Mr Speaker, tonight we begin to honour the Government's commitment to an Education Revolution, with an additional $5.9 billion in funding over the next five years.
Just one year ago, from the other side of this House, we promised $2.5 billion for Trade Training Centres in our schools. Tonight it gives us immense pleasure to announce we are funding that promise.
We will provide $1.2 billion over five years to provide up to $1 million per school to deliver computers and communications technologies to all students in Years 9 to 12, as part of the Government's Digital Education Revolution.
We will honour our commitment to providing all four year olds with access to 15 hours a week, 40 weeks a year, of early childhood education by 2013.
Our Skilling Australia program will increase and deepen the skills capacity of the Australian workforce. A key initiative is the provision of $1.9 billion over five years to deliver up to 630,000 additional training places to fill skills shortages.
And to boost the research capacity that underpins innovation, we will invest $326 million on Future Fellowships for top mid‑career researchers, and $209 million to double the number of Australian Postgraduate Awards for PhD or Masters students.
Better hospitals and health services
Mr Speaker, we have put up our hand and accepted responsibility for improving the health system. No more buck passing. No more blame shifting.
The Government's National Health and Hospitals Reform Plan will revitalise the public health system. In this Budget we are committing to an extra $3.2 billion over five years to public health.
The Government is determined to bring a greater focus on preventative health. Our National Binge Drinking Strategy brings the tax treatment of 'ready‑to‑drink' alcoholic beverages in line with full‑strength spirits to help address binge drinking among young Australians, particularly young women. We will work with the States and draw from the revenue raised to fund preventative health measures.
Tackling climate change
Mr Speaker, the Government is addressing the fundamental environmental and economic challenge of climate change. We have ratified the Kyoto Protocol, and begun work on an emissions trading scheme and a national renewable energy target.
This Budget includes measures totalling $2.3 billion over five years to help reduce Australia's greenhouse emissions, adapt to climate change, and ensure we show global leadership in the transition to a low emissions economy.
Funding includes $500 million over eight years for clean coal, $500 million over six years for renewable energy, and $150 million over four years for energy innovation.
The Government will assist working families to reduce household emissions with a range of initiatives, including the Green Loans program costing $300 million over five years.
Supporting business
Mr Speaker, the Government supports the aspirations of Australian business, including small business, for a simpler tax system and less regulation.
Our nation has the potential to be a financial services hub in the Asia Pacific Region — the fastest growing region in the world. To support this ambition, the Budget begins the process of significantly reducing the withholding tax, by reducing the current interim rate of 30 per cent to a final rate of 7.5 per cent for most non‑resident investors.
This Budget confirms our commitment to a comprehensive agenda of regulation reform — cutting red tape and making it easier for business, particularly small business, to deal with government.
To improve innovation and productivity, the Government will invest $251 million over five years to establish Enterprise Connect Innovation Centres.
Regional and Rural Australia
Mr Speaker, at the election we promised to be a Government for all Australians. For rural and regional Australia, and for Indigenous Australia.
Rural Australia has been going through the worst drought in a hundred years. The Government's $12.9 billion ten‑year national water policy framework Water for the Future brings a comprehensive and coordinated approach to water supplies.
We will invest $2.2 billion over five years for the Caring for our Country program, to bring an integrated approach to our natural resource management.
To assist regional communities in achieving their economic potential, we will invest $176 million as part of our Better Regions initiatives.
And we will provide $271 million over four years to fund the Australian Broadband Guarantee, ensuring all Australians, particularly those in regional and rural areas, have equitable access to 'metro‑comparable' broadband services.
Indigenous Australia
Mr Speaker, the Government is working closely with the States to close the gap in Indigenous disadvantage. This is a long‑term challenge for our nation.
As an initial step, the Government will invest an additional: $90 million over five years for child and maternal health services; $99 million over five years for additional teachers in the Northern Territory; and $56 million over four years for an expansion of literacy and numeracy programs.
National security
Mr Speaker, a major priority in this Budget is strengthening Australia's national security. It delivers on the Government's commitment to provide 3 per cent real growth per year on average in Defence's underlying funding base to 2015‑16, and extends this commitment to 2017‑18.
As the Defence White Paper is implemented, real growth in total Defence spending is expected to average 4 per cent per year over the next four years. On current projections, Defence spending is expected to be around $6 billion more in 2011‑12 than in 2007‑08.
We will continue to support our military in Afghanistan, Solomon Islands, East Timor and Iraq, until our combat forces in that country are withdrawn.
And we will increase overseas development assistance to around $3.7 billion in 2008‑09, from about $3.2 billion. This is critical for alleviating poverty, and building security in our region. It is the first step in delivering our long‑standing commitment to increase Official Development Assistance to 0.5 per cent of Gross National Income by 2015‑16.
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