The Rudd Government's stimulus strategy is supporting the people of Far North Queensland by injecting $66 million into the local economy, the Assistant Treasurer, Senator Nick Sherry and Member for Leichhardt, Jim Turnour MP, have announced today.
"More than 75,000 residents in the Leichhardt electorate received the tax bonus payments, delivering a much needed stimulus to jobs and businesses in an area hard-hit by the global recession," the Assistant Treasurer said.
"The people of Far North Queensland have now received more than $245 million in stimulus package funding, at a time when the area's biggest employing industries, tourism and construction, have been hit hard by the impacts of the global recession," said the Assistant Treasurer.
"The Rudd Government's stimulus strategy is supporting Australian jobs and businesses in these difficult times and is designed to continue to cushion the economy from the worst effects of the global recession," said Mr Turnour.
The Government's $245 million package to support the people of Far North Queensland has included:
- $150 million invested in school infrastructure as a part of the Building the Education Revolution; and
- $7 million to six local projects under the first round of the Jobs Fund.
- $66 million in tax bonus stimulus payments to 75,375 taxpayers;
- $21.7 million in Economic Security Strategy payments to pensioners, seniors and carers.
Businesses in Far North Queensland are also benefitting from the Government's Small Business and General Business Tax Break, which is providing $3.7 billion tax relief nationwide over the next four years to help business invest with confidence.
"The global recession is seriously hurting Far North Queensland – with unemployment running at almost twice the national average," Mr Turnour said.
"It's sobering to think what the consequences would have been without the substantial resources and stimulus funding the Rudd Government has provided."
"If Mr Turnbull and the Liberals had their way, Australia would now be in recession and countless thousands more Australians would be out of work."
"The Rudd Government has identified Cairns as a Priority Employment Area and has funded a Local Employment Coordinator."
"The Rudd Government is investing in employment and training initiatives to help secure jobs in our region."
The tax bonus stimulus alone boosted the economies of the North Queensland and Far North Queensland electorates of Leichhardt, Kennedy, Herbert and Dawson by $231 million.
"The effects of the global recession are still working their way through the Australian economy and there's a long way to go before we can confidently say we've come through this crisis," the Assistant Treasurer said.
"We are outperforming the world, being the only advanced economy with positive annual GDP growth at 0.6 per cent. Unfortunately, unemployment continues to rise around the world as the global recession plays out, and Australia is not immune."
"The Government will continue to work hard, from Canberra to Cairns, to boost consumer and business confidence, support jobs and deliver a sustainable recovery," the Assistant Treasurer said.