Coalition pledges $20b Regional Australia Future Fund
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The news: Nationals Leader David Littleproud has announced plans for a 'Regional Australia Future Fund' aimed at delivering a guaranteed annual funding stream for regional, rural and remote Australia.
The numbers: The Coalition has pledged that if elected, it will grow the fund to $20 billion by preserving a portion of commodity windfall receipts.
The context: Littleproud said the fund would be "in recognition of the contribution regional Australians make in growing our national economy and the unique challenges faced now and into the future".
The Coalition's initial priorities for the fund would include:
- Fixing regional road and transport networks;
- Growing the regional health workforce;
- 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 services for country communities; and
- Building and upgrading economic and community infrastructure, facilities and services.
What they said: “Once established the fund will invest a fair share of the profits created through the hard work of regional Australians back into the regions,” Littleproud said.
“It means we don’t have to fight for funding shortfalls to provide infrastructure in regional areas.
“The fund will deliver secure and sustainable long-term funding to tackle challenges that hold back regional communities and invest in building the long-term economic foundations of regional Australia.”
The source: The Nationals media release
