By Jorian Gardner
TAKING from its strong surpluses over the last seven years, surpluses that have put the ACT in a strong cash position, the Stanhope Government has announced a billion-dollar infrastructure investment program “Building the Future” as part of the 2008-09 Budget that they say will drive the restructuring of the public health system and inject a quarter of a billion dollars into an integrated transport system.
“Around $700 million of the investment will be funded from past surpluses, with around $300 million funded from the current and future Budget capacity,” Chief Minister
and Treasurer Jon Stanhope said.
This, as well as a swag of other initiatives, are delivered at the same time as he revealed a $84.9 million surplus for 2008-09.
The five-year, billion-dollar program includes provisions for:
• $300 million first instalment in health initiatives;
• $250 million investment in the Territory’s transport system;
• $100 million for improving urban amenities;
• $100 million for climate change initiatives;
• $50 million investment in information technology infrastructure in Government agencies, schools and hospitals;
• $200 million boost to the existing capital works program.
He said the Government was investing massively in climate-change initiatives as well.
With a new feed-in tariff scheme (recently introduced into the Assembly by MLA Mick Gentleman) and a feasibility study into a solar power station nearing completion, Mr Stanhope said that the Budget delivers $100 million through the “Building the Future” infrastructure program for climate change.  Added to this, there is also a massive injection of funding into transport, which will deliver significant greenhouse benefits in its own right.
“This will bring the Government’s investment in climate-change initiatives between 2007-08 and 2012‑13 to over $242 million,” Mr Stanhope said.
There were targeted and effective tax concessions for pensioners and first homebuyers and a 20 per cent increase in the payroll tax threshold to $1.5 million, directly benefiting many small to medium businesses.
A much-needed injection of $51 million has been set aside over four years to address skill shortages including $5.5 million to strengthen the ACT’s health workforce; $4.2 million to support demand for vocational education and training through Australian Apprenticeships and $3.4 million to expand careers education and vocational training in colleges; a $2.5 million boost to vocational education and training at the CIT; $1.2 million to strengthen the Skilled and Business Migration Program; $9 million for a new horticulture facility at the CIT’s Bruce Campus; and $500,000 for the feasibility and design of a new CIT Trade Skills Centre at Fyshwick.
“The nay-sayers can say what they like – and of course, will – however, this Budget is about securing the future of the ACT in a number of areas and I think the ACT Public will see that,” said Mr Stanhope.