There was hope for businesses hoping for recovery support and those looking for work, but Ballarat has once again appears to have been overlooked in a big-spending federal budget.
Subscribe now for unlimited access.
$0/
(min cost $0)
or signup to continue reading
The budget's focus is on regrowing the economy, through tax changes planned for 2022 being brought forward and a host of spending on infrastructure projects across the country - while the economy is tipped to have fallen by 1.5 per cent, with a deficit of $213.7 billion, it's expected the economy will grow by 4.75 per cent.
FOLLOW OUR LIVE BLOG HERE: Full details and reaction as Josh Frydenberg announces measures for COVID-19 economic recovery
It's hoped the measures will stimulate household spending, and encourage more job creation, particularly for young people.
Budget papers reveal tax credits for hiring young people and apprentices, and instant asset write-off for businesses with a turnover of up to $5 billion until June 2022.
In terms of infrastructure funding, $30 million was announced for the Western Rail Plan, which is investigating further upgrades for rail lines to Ballarat and Geelong.
BALLARAT'S PRIORITIES: Hope for Link Road, fast rail, business support
In Ballarat, several leading voices said the Ballarat Link Road's second stage, which would upgrade Dyson Drive south of Remembrance Drive and get more trucks out of the CBD, was an urgent priority, but there was no mention of this in the budget papers.
Committee for Ballarat chief executive Michael Poulton said the tax cuts, particularly for middle and lower income workers, would be welcomed.
"It'll give local business the shot in the arm it really needs," he said.
The apprenticeship subsidies were also promising, as business looks to rebuild or workers look to retrain, but cautioned there may not be a lot of money going directly to TAFEs in Ballarat.
"There's only $4.8 million for Victoria, there's not a lot of money going around, but it's an opportunity for local businesses to cash in with new apprentices, it's an absolute positive," he said.
Mr Poulton also called for more investment in renewable energy initiatives and assets instead of the gas-led recovery touted by the government.
The Western Rail Plan funding is a step towards electrifying tracks between Melbourne and Melton, he added.
"Taking it off the V/Line system, it helps to untangle some of the mess between western suburbs and the CBD, we'd encourage that bit of work to be completed," he said.
That's going to be great for the business owner as it will give some relief in their labour costs but it's also a great win for young people getting into an apprenticeship
- Nick Thurlbeck, Commerce Ballarat
Commerce Ballarat chairman Nick Thurlbeck said the write-off of new assets until 2022 is "absolutely huge", while the ability to write off losses will "impact on a large amount of businesses in the Ballarat region".
"That's going to let a lot of businesses spread the pain," he said.
"Some sectors have horrendously impacted - hospitality, gyms, the entertainment industry - they're a big part of the Ballarat economy and they're all going to benefit significantly."
He also welcomed the 50 per cent subsidy for apprentice wages.
"That's going to be great for the business owner as it will give some relief in their labour costs but it's also a great win for young people getting into an apprenticeship," he said, adding the JobMaker program's hiring credit scheme is a "really big win for business owners and for the young people of Ballarat too, who probably don't have a bright outlook for the next 12 months".
Federal Ballarat MP Catherine King said it was "really disappointing" to not see funding for the Ballarat Link Road.
"Given some of the roads that have been funded, I think that one had a very good case," she said, adding there won't be big infrastructure projects for Ballarat "at all".
Money committed for the Western Rail Plan is a good start, she said, but the lack of social housing funding is "frustrating".
"The rental market is so tight in Ballarat at the moment," she said.
"That sort of pressure on housing is just going to continue. If you can't get secure, long-term housing, it's very hard to keep your employment. A trillion dollar deficit and we don't get that - it just seems to be not quite fair."
Regarding the apprenticeship subsidy, she said: "We welcome any support that can save any of our businesses. It's a lot of money to go into debt for. Is it going to be enough to restore jobs in our community?"
However, she criticised the cut-off for the apprenticeship subsidy for those aged older than 35, making the point that many people beyond that age, particularly women, had their employment affected by the pandemic.
"If people need assistance, they need assistance," she said.
"The government is going to have to explain why they chose that age."
Federal Senator Sarah Henderson said the new tax measures will help more than three million taxpayers.
"This means more money in the pockets of local households to assist with the cost of living, but also to help generate economic activity and create jobs," she said in a statement.
"We will also simplify access to credit for households and small businesses, to support the economic recovery."
Senator Henderson added the budget also includes a $2 billion investment in road safety upgrades to save lives and an additional $1 billion to support local councils to immediately upgrade local roads, footpaths and street lighting.
"This investment, along with the Building Better Regions Fund, will deliver significant funding opportunities for the Ballarat community," her media release states.
The Victorian state budget is expected to be announced this month.
You can read the full budget papers yourself online.
If you are seeing this message you are a loyal digital subscriber to The Courier, as we made this story available only to subscribers. Thank you very much for your support and allowing us to continue telling Ballarat's story. We appreciate your support of journalism in our great city.