Federal Budget serves up goodies

IT APPEARS the Federal Budget handed down by Treasurer Wayne Swan last week has a number of positives for Ipswich.

Firstly the boost to fast track completion of the Ipswich Motorway is welcome in allowing easy access to Ipswich from the east.

Some have questioned why this funding has been given as the entrance to the eastern suburbs of Ipswich has just recently been largely completed. However, the Ipswich Motorway stretches well into Brisbane suburbs and the long-awaited completion of the entire stretch of this road to Ipswich is a big plus for the city.

The second piece of good news from the budget was the increased family payment funding and tax breaks for families. Although some of this funding does not start until 2013, and there are various conditions on it, the underlying premise is that most families will have more spending money in their pockets. As Ipswich continues an upward spiral in population growth which includes existing and new families to the region, the family payments increase must be seen as a good thing for the city.

The other benefit from this additional family funding is that discretional spending increases of families will probably, in the main, flow into the Ipswich economy giving a boost to existing businesses of the region.

It is somewhat ironic that Ipswich should be benefiting from a budget which is to a degree funded by the wealth from the mining boom. Ipswich was largely built on mining, although there has been very little mining activity for the past three decades in the region.

Despite this cessation of mining in Ipswich, the city is indirectly gaining benefit from the Australian mining boom, although the coal mines which the city was built on have long since closed.

Other general benefits to the region from the budget include aged care, health care and disability insurance initiatives, although company tax rate cuts have been scrapped, something businesses would have welcomed.

The budget will not please everyone but should have a positive impact on the majority of Ipswich residents and businesses.

 

UPCOMING EVENTS

Tuesday May 22 - Breakfast with BDO, one of Queensland's leading and most experienced audit, tax and advisory firms, proudly presents guest speaker Dylan Byrne (BDO Partner, Sustainability) discussing carbon tax implications for small business at the Ipswich Turf Club - Brisbane St Bundamba, 6.45-8.30am. Members $44, non-members $55. RSVP by Thursday.

Thursday June 7 - Networking AFTER 5, presented by The Ipswich Cup at the Ipswich Turf Club - Brisbane St Bundamba, 5-6.30pm. Free event for members, non-members $25 pp. RSVP by June 1.

Bookings and payment in advance is essential for all events. Enquiries phone 3282 8688 or admin@ipswichchamber.org.au.



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