David Littleproud (Maranoa, National Party, Shadow Minister for Agriculture) Share this | Hansard source

I rise today to speak on the Northern Australia Infrastructure Facility Amendment (Miscellaneous Measures) Bill 2023. The federal coalition wholeheartedly supports this bill because what this legislation delivers is the policy that we, on this side of the House, announced while we were in government and enshrines it in law. The federal coalition has always supported northern Australia, and we are extremely proud of our achievements and the legacy that we secured for this part of the nation during our time in office. It was the federal coalition who first set up the Northern Australia Infrastructure Facility, the NAIF, in 2016, which was a landmark investment platform designed to drive economic infrastructure across the north. It was the federal coalition who developed the northern Australia white paper to outline the challenges and opportunities that exist in an area which covers more than half of our land mass, and it is the federal coalition that continues to fight for those regional communities to ensure that those who grow our food, mine our resources and build our nation get the recognition they rightfully deserve.

Under our government, the NAIF made over 31 investment decisions, totalling $3.4 billion, supporting projects with an estimated total capital value of $6.5 billion across northern Australia. These projects range from airports and higher education facilities to clean energy infrastructure, resources and agricultural ventures. The projects that the NAIF supported are forecast to generate around $25 billion in economic benefits and create more than 13,000 jobs. Importantly, the coalition extended the NAIF's lifetime by an additional five years, to 30 June 2026, so that it could continue delivering critical investments to the northern regions.

Under the legislation before the House today, there are two substantive amendments within the bill and one technical clarification. The first substantive amendment expands the NAIF's area of operation. In December 2021, the federal coalition announced that the Indian Ocean territories of Christmas Island and the Cocos (Keeling) Islands would be included in the NAIF's jurisdiction and able to receive support. This extension will allow the NAIF to continue delivering vital investments in more parts of northern Australia. The Indian Ocean territories have so much potential to capitalise on, including sustainable tourism, with their incredible biodiversity and unique landscapes. The inclusion of the Indian Ocean territories in the NAIF will help incentivise private sector investment in these regions and support businesses in the Indian Ocean territories to diversify and grow. This expansion opens up a variety of opportunities for the region, especially in the tourism sector, and enables local businesses to tap into their natural competitive advantage and provide jobs for the future.

The second substantive amendment in the bill is to increase the NAIF's funding from $5 billion to $7 billion. This is an important measure that we fully support. In fact, it was the federal coalition that further committed to strengthening the development of northern Australia by announcing, back in January last year, a $2 billion funding increase for the NAIF from $5 billion to $7 billion. This increase will support additional projects throughout northern Australia, and it's good to see the government honour this commitment. Ultimately, the government's backing of these two coalition announcements is a true affirmation and recognition of the great policy that we developed for northern Australia.

It should be noted that, following the statutory review of the NAIF in December 2020, the federal coalition moved amendments to the act in 2021. As part of the extended scope, amendments were made to allow the NAIF to provide financial assistance to entities other than states and territories and to provide loans in addition to grants. This expanded availability for support includes regional Indigenous Australians and provides an avenue for economic growth and investment in local Aboriginal and Torres Strait Islander communities in this part of the nation. Overall, the bill before us today is simply a technical clarification and it's a continuation of the federal coalition's policy to build the north.

While it's welcome to see Labor continue to fund the NAIF, it's a huge concern to see the government slash other regional funding that is critical to northern Australia and our regional communities all over the country. This government's cuts and delays to infrastructure in regional Australia amount to billions of dollars, and northern Australia will feel the impacts of this. Giving with one hand and taking away with the other is not a formula for success.

In the north it was the coalition government who delivered $1.9 billion for the Roads of Strategic Importance initiative, committed an extra $678 million for the Outback Way and secured $300 million under the Northern Australia Beef Roads Program. The coalition government fought hard to deliver tremendous amounts of federal funding to build critical infrastructure in the north. Rest assured that the coalition will continue to fight for northern Australia. I'm pleased to confirm that we will support this bill, which puts the coalition policy into law.

Debate adjourned.

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