Ratepayers hit with 10% rise to cover deficit forecasts
RATEPAYERS in the nation's capital will be hit with a 10% rate rise as the territory government seeks to cut down three years of deficits forecast.
The Australian Capital Territory Government handed down its budget on Tuesday, showing similar economic constraints as Queensland.
But it will be the Abbott government's cuts of 16,500 public servants that will have the biggest effect on Canberra's economy; one less thing the Sunshine State needs to worry about.
ACT Treasurer Andrew Barr said the Federal Government's budget cuts took about $100 million from the territory's coffers, with a surplus not expected until 2016-17.