LNP LAUNCHES REGIONAL AUSTRALIA FUTURE FUND
Federal Member for Wide Bay Llew O’Brien today announced an LNP Government will create a flagship Regional Australia Future Fund, designed to deliver a guaranteed annual funding stream in perpetuity for regional, rural, and remote Australia.
An LNP Government will preserve a portion of commodity windfall receipts towards the establishment of Regional Australia Future Fund to grow this Fund to $20 billion.
Mr O’Brien said the Fund recognises the contribution regional Australians make in growing our national economy and the unique challenges regional communities face now and into the future.
“Over the last three years the Albanese Labor Government has abandoned regional Australians,” Mr O’Brien said.
“In Government the LNP will establish a $20 billion Regional Australia Future Fund to provide $1 billion annually to improve regional roads, communications, health and childcare, and regional grant programs to improve community service and sporting facilities, to benefit regional communities like ours here in Wide Bay.
“The Fund will invest a fair share of the profits created through the hard work of regional Australians back regional communities. It is designed to address funding shortfalls to deliver infrastructure in regional areas.
“The Fund will help tackle the challenges that regional communities face now and invest in the long-term economic foundations of regional Australia to address future challenges.”
The Fund will be legislated in perpetuity, to establish a fiscally responsible way to invest in the future generations of regional Australians. It will have clear investment principles and will sit under the Future Fund structure and grow through their proven investment strategy.
The Fund will be transparent and benchmarked with a legislated State of the Regions review by an independent committee, which will inform each four-year investment plan.
Following extensive consultations with local communities, the Dutton-Littleproud LNP has identified initial key priorities of the Regional Australia Future Fund, which include:
- Fixing local road and transport networks to save lives and drive economic productivity.
- Growing the regional health workforce so families can access local and affordable health and aged care.
- Developing regional industries to drive economic growth and create secure jobs.
- Delivering flexible childcare solutions for families in regional, rural, and remote areas.
- Growing tourism industry opportunities for regional communities and economies.
- Supporting regional businesses to market and export their product to new and expanded markets.
- Improving regional mobile and internet communications for country communities.
- Building and upgrading economic and community infrastructure, facilities, and services.
The funding stream will supplement – not replace – normal government funding across these critical areas where regional Australia faces unique challenges.
“This Fund will future-proof regional Australia against short-termism and Labor Governments which leave regions behind,” Mr O’Brien said.
“The Fund will give confidence to regional communities, by investing in our economic future over coming decades, not just each electoral cycle, providing a source of funding for better roads, communications, and services.
“Families and businesses in Wide Bay contribute significantly to the prosperity of our nation. This Fund will ensure Wide Bay can take advantage of opportunities and overcome the neglect of the Albanese Labor Government.”
“When Labor came to office, it slashed $10 billion of regional development programs and over the last three the Albanese Government has failed to make any significant investments in our region.”
“This fund means that we can again invest in our region to build the roads and facilities and deliver the services to make Wide Bay even better.”
