Housing grants remain in SA Budget
Housing grants remain in SA Budget
Posted on Thursday, June 06 2013 at 4:59 PM
South Australia has decided to extend its housing-related stimulus as part of the 2013 Budget handed down today, bucking the trend of other states.
Premier
and Treasurer Jay Weatherill says lower than forecast revenue and GST royalties
framed his Budget, which includes cost saving measures in a bid to return to
surplus.
“We’ve been careful with our spending to ensure we
meet the demands of today, while improving the Budget for the future,”
Weatherill says.
The
projected deficit for the current financial year came in at more than $1
billion. The debt projection for the coming year is $911 million but the
government hopes to return to surplus by 2016.
Unlike
other states, the government decided against gouges to housing stimulus. Cash
grants of $8500 for anyone buying or building a new home were due to wrap up on
June 30, but will now be on offer until the end of the year.
“The
Housing Construction Grant is about providing an urgent boost to the state’s
housing construction industry and helping stimulate the property sector,”
Weatherill says.
Similarly,
the $15,000 First Home Owner Grant will continue, as too will stamp duty concessions for buyers of off-the-plan apartments in
Adelaide’s CBD.
The Budget also included new funds for a
range of road and transport projects, including the previously scrapped Gawler
rail line electrification between Adelaide and Dry Creek.
That project is now back on track, thanks to
a funding commitment of $152 million over the next three years.
Other spending areas of focus include small
business assistance, health, education, disability support, affordable housing,
a ‘vibrant city’ cultural improvement strategy and law and order.
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