Following discussion and agreement at the National Cabinet today, and further unanimous support from the State and Territory Board of Treasurers, Governments around Australia are delaying their annual budgets until later in the financial year. Consistent with this national approach, the 2020/21 ACT Budget will be postponed.
Through the supply provisions contained within the Financial Management Act and future Appropriation Bills, the ACT Government will ensure we have the financial capacity to continue providing economic stimulus in response to the spread of COVID-19 across the country.
This decision will not impact on the ongoing delivery of Government services, or the Government’s ability to pay the salaries of our staff.
As the Prime Minister has noted, it is not possible to develop and set out fiscal and economic strategies for the full year. The economic impact of the National Cabinet’s response to the pandemic will continue to change, and Governments will need to act as quickly as possible.
How the nation responds to the COVID-19 pandemic will profoundly change the way of life we have come to expect. The decisions being made at the National Cabinet level are not easy. There are often no risk-free responses, and there are many competing priorities to balance.
Work will continue among State and Territory Governments, as well as the Commonwealth, on what measures are necessary to help businesses survive, support households and protect as many jobs as possible. This will be a priority in the ACT Government’s multi-staged economic response.
- Statement ends -
Section: Andrew Barr, MLA | Media Releases