00:00It's responsible and responsive to our community's needs and the economic
00:05circumstances that we face. It's a budget that's about housing, about frontline
00:11services and about caring for our community. And it's a budget that
00:15delivers the largest single investment in new housing in the Territory's history.
00:21Delivering more public and affordable homes for our community while boosting
00:26housing supply to support home ownership for current and future generations of
00:32Canberrans. We're delivering the next stage of our tax reform program, completely
00:38eliminating stamp duty for first home buyers in an Australian first. And we're
00:45backing our landmark missing middle housing reforms by eliminating stamp
00:50duty for the purchase of new unit properties, including units off the
00:57plan and those that have already been built. We've also made a significant
01:02decision to reset the capital pipeline to make sure that it's deliverable and
01:07sustainable, constraining growth in the public sector and we're ensuring that
01:13Canberrans can continue to enjoy high level of service. Despite the war in the
01:18Middle East, the can the ACT economy remains resilient and is growing. In 2024-25, the
01:27ACT economy grew by 3.5%, the highest in the country. And while growth will soften
01:35somewhat over this year and next year due to the ongoing effects of the war and
01:43the oil supply shock, it will still grow strongly into the future with lower
01:50inflation and unemployment than the rest of the country.
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