Budget breakdown | Sarah Megginson

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Episode Transcript

Speaker 1 (00:00):
Good morning. Well was it a late night for you
underhacking the budget? Well, they do it at a very
reasonable hour of about seven point thirty, so it wasn't
too late, but it was really a packed one. So
it was a lot to go through all the different
things that are happening and figure out how it impacts
normal people every day it's changed. Okay, So if this
budget gets through, because obviously they have to get elected,

(00:21):
how is it looking for us? There are so many
different parts to it. I think I'll stick with the
bits that impact most people. So they have announced tax
cuts that would be rolled out over two years. So
the bottom tax rate at the moment is sixteen percent.
They're proposing reducing that down to fourteen percent over the
next couple of years. And that it's obviously great. Everyone

(00:44):
loves the tax cut, but it possibly would have been
better if it was a offset instead for low income
owners because this tax cut is going to flow through
to people who are earning HIR incomes as well, and
you know, we don't really need that in the HIR
income bracket. We need more support for lowering cut people
at the moment. So that's still good news for everyone overall.
People are going to be happy about a tax cup.
There's also a continuation of the energy rebate. So the

(01:08):
last year's budget we got three hundred dollars over twelve
months delivered as seventy five dollars credits to our energy bills.
So proposing doing another two of those so the end
of this year you would get the seventy five dollars
credit in your two final bills of the year as well,
so that's very helpful for people with their energy bills.
There's a whole bunch of stuff for women's health, which

(01:30):
is pretty great. Obviously, I'm looking at the impact on
women in a budget like this, there's quite a few
things that are helpful towards women. It's about eight hundred
million dollars towards women's health, things like adding new menopause
treatments to the PBS, making contraception of it cheaper and
more affordable, and funding clinics for things like endometriosis. I
know a lot of women listening will recognize that that's

(01:52):
been underfunded for many, many many years, if not decades,
so that's pretty positive news. And more generally, care is
getting a big roost, about just under eight billion dollars
towards bolt billing with a goal towards making nine out
of ten GP visits fault build within the next four years.

(02:13):
So I have definitely noticed the cost of doctor's builds
has been increasing the last few years. My local GP
went from bult billing to not fault billing and it
does really add that decision making around GP visits now
where it used to be anytime something was up, we
would go to the doctor, and now you start to think, uh,
that worth forty dollars or a fifty dollars out of
popert fee. Maybe I'll wait until I've got more things

(02:35):
to go to the doctor about. So that's what that's
kind of about, trying to make sure everyone has fair
and easy and free access to GP visits. Thank you,
you can tell you we're up late last night. That
was very well prepared. You weren't even distracted by the
news of all the Olympic stadiums and everything coming out
on the same day. Because it's funny when budget said

(02:57):
that was in the budget though by the way our release,
yeah that was really yes, it is this one also, Yeah,
a cyclone Alfred through a bit of a center in
the work. There because we were expecting Elbow to call
an election and then there was all sorts of things
going on, so this came a little bit quick, a
little bit faster than we were expecting. But and I

(03:17):
also have only just touched on like half of the things.
There's also wage increases for care infectors. About two point
six billion dollars was wage increases in childcare and age care,
and that's so important because we know that those industries
are females dominated and there's still a very big gender
pay gap, so trying to increase wages there is really
important too. Yeah, there's lots of interesting stuff in it,

(03:37):
but it'll be really it's always fascinating the days after
a budget announcement to see how it gets treated in
the media in different ways depending on your beliefs, and
you know, how you see this spending. Some people see
it as reckless, some people see it very much needed,
some people say it's not enough. So it really depends
on your point of view and your agenda. But I
always try to just find the things that are most

(04:01):
that people really want to know so that you can
it can help you to be informed. Thank you, Sarah,
You're always so good going for at Sarah Megan some
money is it? Or money margarita? Now you changed it,
didn't you, Yes, trying to make it a bit more fun.
All right, I'll tell you what margaritas would have been
nice watching the budget. Thanks Sarah,