Wednesday 10 May 2023

2023 Budget Wrap-up

 BY EMILY WILLIAMS

Treasurer Jim Chalmers has announced the Federal budget for the year ahead, with energy and Medicare coming out on top.

Leading into Tuesday night's announcement, Hunter residents were most concerned about energy, housing and the cost-of-living crisis.

 Image: Facebook


These are some of the highlights from the 2023 budget:

CLEAN ENERGY

As the country continues its transition away from fossil fuels, the new budget includes a significant investment in clean energy.

A $2 billion Hydrogen Headstart Fund will be established to produce renewable hydrogen as part of the Government's bid to become a "renewable energy superpower".

ENERGY BILL RELIEF

5 million Australians will have a $500 reduction to their energy bills next year.

Those eligible will include pensioners, veterans, seniors and other concession card holders.

Recipients of Carer Allowance and Family Tax Benefits will also benefit from the scheme.

MEDICARE

A $5.7 billion investment in Medicare was announced, including a $3.5 billion incentive to triple bulk-billing for low income families.

The incentive will increase from $6.60 to $19.80.

This coming after the latest Clean Bill report revealed the Hunter had some of the lowest bulk-billing rates in New South Wales.

Vice-President of the Doctors Reform Society Dr Robert Marr praises the move.

"It's really important that people have access to GPs and it's important that Medicare bulk-billing be saved, and that's what the budget has done," he said.

RENTAL CRISIS

As the rental crisis continues to plague the Hunter, more than a million low-income earners will be eligible for rental assistance.

The Commonwealth Rent Assistance package will increase by $31 a fortnight for some recipients.

However, the changes have been criticised by Everybody's Home spokesperson Maiy Azize.

"Those who do get a small increase will find that it has been swallowed by surging rents," she said.

SINGLETON AND MUSWELLBROOK BYPASS

Although not mentioned in the budget, the Singleton and Muswellbrook bypasses will go ahead, Federal Member for Hunter Dan Repacholi has confirmed.

"Which is great news for the residents of the Hunter," he said.

These projects have expected completion dates of 2026 and 2027; however, this is weather dependent.