IT'S the Abbott government's first Federal Budget and this is how its reverberating around regional Australia.
Changes to tertiary education fees, the return of indexation to fuel excise, infrastructure spending and, of course, whether election promises in relation to tax have been kept or broken all will be covered.
►Check out what Fairfax economics editor Ross Gittins had to say before Joe Hockey's budget was released.
►Will the Federal Budget hit you in the hip pocket? Hear what the people of regional Australia have to say on our video wall
WOLLONGONG: Despite the delivery of an $11.6 billion infrastructure growth package, the Illawarra region did not rate a mention once in the budget papers. However thousands of future University of Wollongong students will be affected by sweeping changes to the higher education sector, which will require them to pay back student loans sooner and at a higher interest rate. Read more
►Universities will have unfettered freedom to set their own fees under the most radical shake-up to higher education funding since the introduction of HECS 25 years ago. Read more
► TAMWORTH: Prime minister Tony Abbott described it as a budget that inflicts "pain with a purpose", but for Tamworth families battling the spiralling cost of living, that purpose is hard to swallow. Still New England MP and deputy Nationals leader Barnaby Joyce is unrepentant about the budget, saying the government had to make tough decisions to rein in the national debt. Read more
BATEMANS BAY: The bellwether card will be played in Canberra on Thursday, when Eurobodalla officials push the shire’s Budget barrow with Eden-Monaro MP Peter Hendy. Mayor Lindsay Brown and general manager Dr Catherine Dale are scheduled to meet the Coalition MP in his Parliament House office to discuss the impact of the federal Budget on the shire. Read more
► The NSW Government has major concerns over the Commonwealth’s Budget, with what appears to be ‘cost-shifting’ in health and education services. Read more
BAYSIDE BULLETIN: In Queensland, Joe Hockey’s first budget was full of the buzz words Queenslanders are now familiar with - the need for everyone to “contribute”, for government to be “redefined” and made “smaller”, a time to “build” and “transform” and “repair”, an end to “the age of entitlement”. Read more
THE EXAMINER: Few Tasmanians will escape the impact of this tough federal budget with the cost of living set to rise. In good news for the state, election promises designed to promote jobs growth have been honoured, including the centrepiece of the Tasmanian economic growth plan, the Midland Highway upgrade. Read more
John Hicks is a Professor of Economics, based in the School of Accounting and Finance at Charles Sturt University in Bathurst. He expects a contractionary budget to rein in the deficit, and believes that the greatest focus will be on raising taxation which he believes comes with greater disadvantages than expenditure cuts. Listen to what he has to say above.
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