ACT Budget Update

The money hungry ACT government is slugging households more and more in the Budget, while future generations will be forced to pay for their decisions.

Increases to Rates, Fees, Charges & Taxes

As per previous years, the ACT Labor Government is increasing a range of fees, fines, taxes and charges to pay for their mismanagement. The cost of living continues to increase and future generations will be burdened with repaying more than $3 billion in debt.

The budget includes a total fiscal deficit for this year of $327 million. This figure is despite record revenues coming in. Whilst the Government likes to talk about a ‘Headline Net operating Balance’, this figure conveniently excludes all the expenditure and revenue attached to Icon Water, capital expenditure and other important items. When you consider the total income for the Territory and total expenditure, the Government is short more than $300 million.

Increases to rates

Like all Labor Governments, they like to measure  their achievements on how much is being spent, not by what is actually being delivered. The total revenue for the last few years is as per the chart below.

 

Stamp duty keeps bringing in millions

Like all Labor Governments, they like to measure  their achievements on how much is being spent, not by what is actually being delivered. The total revenue for the last few years is as per the chart below.

Other increases

  • Residential rates is up 12%
  • Commercial rates is up 5%
  • Land tax is up 18%
  • Motor vehicle registration is up 6%
  • Parking fines up a whopping 38%