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Saturday, November 16, 2024

Government to impose over $1 billion in taxes on large corporations for mental health funding

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In a recent statement, Premier Annastacia Palaszczuk announced that large companies will be levied to help those who are struggling due to the ongoing pandemic. The funds raised will be ringfenced for mental health purposes, with any underspend being carried over for future use in the sector.

While this move has been praised by many, including Queensland Alliance for Mental Health CEO Jennifer Black, who commended the government for creating a dedicated funding stream, there are still concerns that more needs to be done. Black pointed out that mental health services have been underfunded compared to the national average for the past decade.

Similar measures were announced by the Victorian government last year, indicating a growing trend towards using levies on large companies to support those in need. However, there are still critics, such as Opposition treasury spokesman David Janetzki, who suggested that these actions represent a broken election promise.

Despite the criticisms, the upcoming operating budget for health and ambulance services will see a 5.6 percent increase from the previous financial year. This represents a 55 percent growth since 2015-16, with admissions to public hospitals also increasing significantly.

The government also plans to roll funds from a $2 billion hospital fund into its Better Health and Hospitals Plan, aiming to expand capacity and deliver an additional 2509 beds across various hospitals in the state. This includes new hospitals in Toowoomba, Bundaberg, and Coomera, as well as a new $750 million cancer centre in Brisbane.

Overall, the government's actions demonstrate a commitment to improving health services and supporting those most in need during these challenging times.

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