What the Federal Budget means for regional NSW
Media release | 10 May 2017
The Deputy Premier and Minister for Regional NSW, John Barilaro, welcomes the Federal Government’s continued contribution to Inland Rail and investment in Snowy 2.0.
“The Federal Government’s contribution to Inland Rail will create more jobs, with seven out of the 13 projects located in NSW,” Mr Barilaro said.
“Transport for NSW analysis estimates the Gross Regional Product uplift from Inland Rail will be $486 million in Northern NSW, $216 million in Central West NSW and $254 million in North West NSW.
“The NSW Government is leading the way when it comes to making it easier for our primary producers to get their freight to market and although the total economic Gross State Productivity is relatively small, this new commitment from the Federal Government will make a difference.”
In addition to the Inland Rail, the Federal Government’s investment in Snowy 2.0 will mean more reliable energy and more jobs for Regional NSW.
“Snowy 2.0 will build on the hard work of previous generations to fulfill the potential of this great nation building project,” he said.
“I also welcome the new $1.5 billion Skilling Australians Fund, worth up to $471 million for NSW over the next four years, and I look forward to working with the Commonwealth to help more young people get jobs.
“The NSW Government has set a target to increase apprenticeship completion rates to 65 per cent and this funding will complement our own significant investment in VET through Smart and Skilled and a range of initiatives planned and underway by the NSW Government to meet that target.”
The Federal Budget also includes plans to establish a $4 billion Regional Investment Corporation to streamline and speed up the approval of farm concessional loans and administer the National Water Infrastructure Loan as well as a $472 million Regional Growth Fund that will deliver critical infrastructure ensuring regional areas don't miss out on Australia's growth.
The NSW Government commends the Federal Government’s commitment to building regional communities and we will continue to work together to ensure that regional economies thrive.
Download the media release