Tasmania’s newest independent Senator Steve Martin has secured $47.5 million in federal funding for Tasmania in exchange for his support for company tax cuts.
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Senator Martin said his discussions with government ministers in relation to the secured funding had revolved around tourism, agriculture, infrastructure and exports, perhaps signalling where the money is likely to be invested.
He has previously stated his support for the Coalition’s plan to slash company tax for big business by $65 billion.
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Now, Senator Martin has revealed that his negotiations with the federal government had resulted in a cash windfall for the state – but he said the details were still being “finalised”.
It comes after the government hit a brick wall in the Senate on Tuesday, when it became clear it did not have the numbers to pass the bill before Easter.
But Senator Martin stressed that Tasmania would receive the money regardless of whether or not company tax cuts passed the Senate, saying he had spent his first six weeks in Canberra “knocking on doors and spreading the word about Tassie”.
“I’m very excited about the prospects of what this [funding] will bring to Tassie and I’m sure when we’re able to reveal what the details are once they’ve been finalised that it will be of huge benefit to Tasmania and Tasmanians,” Senator Martin said on Wednesday.
It is expected that the money will be included in the 2018-19 federal budget, due to be handed down in May.