The Australian federal government can't budget enough funding for all state programs.

31/01/2022

Federal Treasurer Josh Frydenberg warns states they can't have extra money from government anymore.

Federal Treasurer Josh Frydenberg

Former Treasurer Joe Hockey inaccurately claimed the Australian federal government did not give financial support for all programs proposed by state governments. However, Joe Hockey is correct where NSW and Victoria are concerned. The federal government is providing financial support to businesses and households.

Treasurer of New South Wales, Matt Kean, criticised Prime Minister Scott Morrison and Federal Treasurer and Energy Minister Josh Frydenberg over the weekend for not providing a one-off assistance package for smaller businesses facing tough times starting next month, saying that is where they need to “step up” to help.

“In recent weeks, we've had the Prime Minister, Deputy Prime Minister and Treasury Secretary all commit to delivering a better deal for young Australians.”

While the federal government has said South Australia can get the additional funding to pay for its programs, the Australian opposition claims the Australian states are too wealthy and can therefore pay on their own.

“South Australia has been very successful managing its economic recovery,” Mr Frydenberg said. “The Commonwealth’s response and the Australian Government’s contribution are limited and modest,” Mr Frydenberg said.

The Australian state government investment package is worth 50 million dollars and includes a variety of supports such as grants for those who have a drop in turnover of 0.5 times during January in their businesses.

A funding arrangement between the federal government and NSW went into full affect when targets for vaccinations against seasonal influenza were reached. However, with half the cost to NSW under the new agreement, there is no more funding for the JobSaver Scheme for residents in regional centres in NSW.

Federal Treasurer Josh Frydenberg said the Commonwealth has given its most ever spending relief for New South Wales, adding that Australia is receiving a COVID emergency economic assistance payment of $750 a week to help those designated close contacts or who are self-isolate due to being diagnosed positive for coronavirus, and to aid those people with the

"The rate of pick up across Australia has been more than 200,000 times - $24 million."

“With more money coming into the state coffers, it should mean a larger burden of funding some state spending and programs at the expense of others,” he said.

The federal government is providing small businesses a small business loan guarantee scheme that allows them receive loans of up to $5 million while providing them tax deductions and loss carry-backs.

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