There will be more than $4 billion in northern Australia to create jobs and stimulate economic opportunities as the economy recovers from the COVID-19 pandemic.
Minister for Resources, Water and Northern Australia Keith Pitt said the government is implementing its plan to rebuild the economy and create jobs.
“We are getting on with economic recovery by investing over $4.15 billion to develop more infrastructure and create jobs across Australia’s north,” Pitt said.
“This is on top of a suite of nation-wide initiatives that will also benefit northern Australia.
“We will capitalise on the north’s advantages in gas, critical minerals and renewable energy sources.”
The press statement said that Northern Australia is at the forefront of the gas-led recovery with $52.9 million invested for Strategic Basin Plans for the Beetaloo and North Bowen and Galilee; independent scientific research into the social, economic and environmental impacts of gas; and support for emissions reduction through carbon capture.
“Gas will play a critical role in the nation’s economic recovery, to capture new opportunities in global resources markets and position Australia to bounce back stronger,” Pitt said.
The $5 billion Northern Australia Infrastructure Facility received an additional $41.5 million to extend operations for five years to 2026 and implement reforms to expand eligibility, increase access to the facility, fast-track approvals, and accelerate lending.
Assistant Minister for Northern Australia Michelle Landry said the 2020-21 Budget would help northern Australia recover from the impact of COVID-19.
“The north is full of hard working, resilient, resourceful and compassionate people and communities,” Landry said. “We do what we do best; we band together, we look after each other and we will get on with recovery in the north.”