Economic strength to balance budget: Joyce
The federal government will seek to use economic growth through projects like a new $500 million dam in central Queensland to balance the budget, Deputy Prime Minister Barnaby Joyce says.
Mr Joyce says Australia needed to become more economically resilient in the face of global uncertainty as the conflict in Ukraine pushes up global petrol prices and the cost of everyday items in Australia.
"What (Vladimir) Putin decides to do - because 40 per cent of Europe's energy requirements come from Russia via Ukraine - causes massive problems," he told Sky News.
"When Mr Putin goes into Ukraine, the problems go all the way back to your supermarket, all the way back to your price of timber, they go all the way back to the fuel bowser."
The deputy prime minister says touching the fuel excise - currently at 44-cents a litre - wouldn't do anything to help ease the increasing cost of living.
"But what it will do is take away money we spend on roads - we still need to keep our roads moving, we still need to keep our trucks moving," he said.
"We had a balanced budget then COVID turned up.
"It's the trajectory we are going back to .. (ensuring) over the longer term we are structured to get our budget back into balance. To do that you have to make the economy bigger."
He pointed to large infrastructure spending like $483 million for the 970 gigalitre Urannah Dam project in Queensland.
It's estimated the dam will unlock 103 gigalitres of water and help nearby producers develop 20,000 hectares of irrigated land.
Mr Joyce said the project would help deliver more infrastructure to regional centres such as Mackay and Gladstone.
"Our government understands that building and growing our nation requires industries that produce wealth, such as the mining, agriculture and farming sectors," he said.
"It is these industries that earn the export dollars that will help make our country as strong as possible, as quickly as possible."
But less than a fortnight out from the budget, a new survey from Anglicare Australia shows more people want government action on disaster and pandemic recovery.
Just 16 per cent of those surveyed saw tax cuts as a priority in the budget, while 12 per cent thought reducing government debt should be the main focus.
Anglicare's executive director Kasy Chambers said proposed tax cuts would make inequality worse.
"Living costs are spiralling, people are still recovering from the pandemic, and many communities are reeling after floods and storms," she said.
"Tax cuts are not the answer to these problems, and Australians know it."
Meanwhile, a government grant of $61.2 million will go towards an Australian Genomic Cancer Medical Centre project to help with research and the development of drugs for people with advanced cancers.
Health Minister Greg Hunt said the grant would help the project carry out clinical trials for customised cancer treatments and precision medicine.
It's hoped the multimillion-dollar project will help make Australia a future hub for the development of cancer drugs.
Professor David Thomas, the head of genomic cancer medicine at the Garvan Institute of Medical Research, said the project would put Australia on the map for precision medicine research.
The government also announced on Thursday the budget would include an extra $74 million for the existing Perth city deal, including upgrades to Edith Cowan University and work on the new Swan River Bridge.
This means the total value of the Perth city deal is $1.69 billion, including funding for Perth cultural attractions, a CBD transport plan and Curtin University.
