While the budget is the big news of the week, especially for health, the impending saviour for Becton is perhaps receiving the most talk on the streets.

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Becton Property Group rumoured close to ‘get out of jail’ deal while Becton Living doubles village sales
Word is that Becton is close to achieving a tie up with overseas investors, bringing much needed funds given its high debt and steadily declining share price. One of the most damaged property operators from the Global Financial Crisis, it has seen its share price drop from $3.73 in January 2008 to $0.06 today. At the same its retirement village subsidiary is its jewel in the crown, reporting a doubling in sales [50% new sales/50% resales] for the March quarter against 2009. The average sales price was $506,329. Becton Living now has 976 ILU’s under management.
The Budget in brief:
Deficit of $39.6 billion, but to return to surplus three years earlier than expected in 2012-13.

Aged Care: $533 million over five years to improve access to high quality aged care.
Health: $2.2 billion in new funding for the National Health and Hospitals Network
Tax cuts: Low income tax offset to $1500, providing an effective tax-free threshold of $16,000 for people with an income up to $30,000.
Climate Change: $652 million over four years in a Renewable Energy Future Fund.

Workplace Relations: $85.7 million over four years for the implementation of a national workplace relations system for the private sector.

Infrastructure: $5.6 billion over the decade to invest in nation-building infrastructure.

Border Security: $1.2 billion to strengthen Australia’s borders and aviation security.

Sport: $237 million over four years for support for elite athletes.

Super Clinics: 23 more GP Super Clinics (on top of the 18 established to date) and upgrade to more than 400 existing clinics.
Pensions: No changes.

The Health Budget in detail:
$1.2 billion has been allocated towards training more doctors and nurses – $495 million funding for more GPs, $145 million will go to specialist doctor training, $534 million to train and support nurses in health and aged care, including $390 million over four years to support nurses working in general practice.
The budget also promised to provide every Australian with an electronic health record by mid-2012.
The government has pledged $132 million over four years for training to help nurses and aged care workers improve their skills and qualifications. Funding for another 600 enrolled nursing training places, 300 undergraduate nursing scholarships in aged care, rural locums for 3000 nurses over four years and support for nurse practitioners in aged care is also included.
Allied health professionals such as physiotherapists, speech pathologists and occupational therapists to be enticed with services and scholarships to take up positions in rural and regional areas.

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