THE 2021-22 BUDGET IS FOCUSED ON CREATING JOBS, PROVIDING BETTER SERVICES AND BUILDING WHAT MATTERS
The budget includes a range of measures that support local jobs and longer term economic growth, including additional funding for the Jobs and Economic Growth Fund (formerly the Economic and Business Growth Fund) bringing the capacity of the Fund to $200m over the next 4 years, extending the payroll tax exemption for apprentices and trainees for a further 12 months, investing further funding in skills and training and providing funding for a range of new transport, health, school and other community infrastructure projects. The budget includes a $163.5m package of mental health initiatives and a $50.1m Early Learning Strategy supporting developmentally vulnerable children by increasing the reach and frequency of early childhood developmental health checks.
These measures build on the government’s $4 billion state stimulus package announced in the 2020-21 Budget.
KEY BUDGET INDICATORS
|OPERATING STATEMENT|| 2020-21 |
| 2021-22 |
| 2022-23 |
| 2023-24 |
| 2024-25 |
|General government net operating balance ($m)||-1 782||-1 397||48||498||379|
|General government net lending ($m)||-2 875||-3 238||-1 848||-1 973||-1 663|
|General government net debt ($m)||14 371||18 168||20 423||22 851||24 923|
|Non-financial public sector net debt ($m)||21 952||26 172||28 898||31 494||33 623|
The budget continues the fiscal support necessary as we recover from the impacts of the COVID-19 pandemic, resulting in a deficit in 2021-22 before returning to surplus in 2022-23, one year earlier than estimated in the 2020-21 Budget. The combination of operating deficits and significant ongoing investment in economic infrastructure results in increased debt levels across the forward estimates. The government is committed to sustainable debt levels that support investment in key infrastructure without placing undue burden on future generations.
BUILDING WHAT MATTERS
over the next 4 years on critical infrastructure across government continuing the government’s record program of infrastructure renewal.
|$8.8b||ROADS AND PUBLIC TRANSPORT|
|$665m||EDUCATION AND SCHOOLS|
SPEND PROFILE OF SIGNIFICANT INFRASTRUCTURE PROJECTS INCLUDING BEYOND THE CURRENT FORWARD ESTIMATES (FE)($m)
|Up to 2020-21||2021-22||2022-23||2023-24||2024-25||Beyond FE||Complete|
NORTH-SOUTH CORRIDOR 1|
NEW WOMEN'S AND CHILDREN'S HOSPITAL2 |
ABORIGINAL ART AND CULTURES CENTRE|
1 Estimates are preliminary and will be finalised once the business case is complete.
2 Costing subject to Infrastructure South Australia review which may impact estimated project costs.