Clear thinking Northerners will applaud the 2016 Federal Budget which delivers on the Government’s promise to provide economic leadership and a clear path towards growth and jobs in Northern Australia.
Northern based LNP Senator Ian Macdonald has welcomed the measures detailed by the Treasurer as great news for Northern Australia.
“Northern Australia will be one of the main beneficiaries of the direct programs, and changes to policy settings, detailed in the Budget papers,” Senator Macdonald said.
“There is new spending on water and infrastructure, and continued spending across the North in the defence and industry portfolios.
“But the North will also benefit from new measures like the $750million Jobs PaTH Programme designed to address youth unemployment, which is a core issue in the Mackay, Townsville, Mt Isa and Cairns regions.
“And jobs growth across the North and across the nation will be boosted by the Ten Year Enterprise Program that will reduce company tax rates from 30% to 25% by 2026-27.
Senator Macdonald today outlined an extensive list of projects and programs that will benefit the North that includes:
- An additional $9million for Northern Water Infrastructure feasibility studies
- $2billion concessional loan fund for water infrastructure, of which a substantial proportion will be dedicated to Northern projects
- $2.4billion Roads to Recovery
- $600million Northern Australia (Priority) Roads
- $100million Beef Roads
- Tax concessions for small business
- $1billion National Stronger Regions Fund, supporting 162 job creating infrastructure projects in regional and disadvantaged communities
- $75million for the Northern Australia Cooperative Research Facility (CRC)
- $5billion Northern Australia Infrastructure Facility
- $5.2billion investment in internet upgrades across regional Australia (through nbn and Sky Muster)
- Over $5billion committed in Northern Australia as part of the Defence White Paper, with an additional $4.8billion over the decade to 2035-36
“There are many factors that impact on our economy, , many of which we have no control over such as commodity prices.
“But what we can control are taxes and spending, and we can control the policy settings that will foster investment and drive the growth that will create jobs and prosperity across the North, and the nation.”