The 2024–25 Budget will inject more than $350 million into Canberra, finance minister Senator Katy Gallagher and other ACT Labor politicians have announced.

The Budget will provide almost $250 million to revitalise the AIS facilities in Bruce and ensure they are modern and fit-for-purpose for Australia’s elite and aspiring athletes. A further $10 million will also be invested to fund masterplans for the AIS and Bruce precincts.

In terms of infrastructure investments, the Budget includes:

• $50 million to design stage 2B of light rail to extend the line from Commonwealth Park to Woden.
• $900,000 for the planning stage of the Belconnen Transitway and Gungahlin District Road Improvements and Molonglo East-West Arterial.
• $27.1 million in additional funding for the William Hovell Drive Duplication project.
• $9.7 million for the first TAFE Electric Vehicle Centre of Excellence at CIT Fyshwick, matching an equal contribution from the ACT Government to train a Electric Vehicle workforce to support a Future Made in Australia.
• A share of the $100 million Active Transport Fund that will upgrade and deliver new bicycle and walking paths to support zero emissions travel.

Politicians also say the Budget will ease cost of living pressures for Canberrans by:

• Delivering a tax cut for all Canberran taxpayers: 79 per cent of taxpayers in the ACT will receive a bigger tax cut compared to the previous legislated plan
• Providing $300 in Energy Bill Relief for all 196,000 ACT Households, and $325 for 18,000 eligible small businesses
• Wiping around $3 billion in student debt, benefiting nearly 57,000 people in the ACT with a HELP debt
• Increasing Commonwealth Rent Assistance by a further 10 per cent, benefitting 7,300 ACT households – building on the 15 per cent increase in September 2023
• Extending the freeze on deeming rates for 14,500 income support recipients in Canberra
• Paying superannuation on government-funded Paid Parental Leave, benefiting around 5,000 Canberrans a year from 1 July 2025
• And making medicines cheaper by freezing the maximum cost of   PBS prescriptions.

The Federal Government will also provide $4.1 million, over four years, for the Canberra Symphony Orchestra.

“The Albanese Government values Canberra’s role as the national capital and is making the investments in the 2024-25 Budget to rollout transformative projects and upgrade local infrastructure that will support our growing city to thrive,” the politicians say.

“Only a Federal Labor Government can work hand-in-hand with the ACT Labor Government to deliver the investments that Canberra needs to grow, while supporting local jobs and maintaining Canberra as the national capital.”

“The Government’s efforts to rebuild the Australian Public Service after a decade of underinvestment also recognises that that delivering outcomes for Australians must be built on the foundations of a strong public service. 

“For too long, the ACT was overlooked by a Coalition Government that didn’t care about Canberra.

“Our city missed out for too long, but the Albanese Government’s budget shows that only Labor is willing to make the investments that are needed to build a Canberra that is well-connected, more liveable and home to a National Capital that all Australians can be proud of.”