Sarah Henderson (Victoria, Liberal Party) Share this | Link to this | Hansard source

My question is to the Minister representing the Deputy Prime Minister, Senator McKenzie. Can the minister outline how the Liberal and Nationals government's plan outlined in last night's budget will deliver a stronger future for regional Australia?

Bridget McKenzie (Victoria, National Party, Minister for Emergency Management and National Recovery and Resilience) Share this | Link to this | Hansard source

I thank Senator Henderson for the question and for the way she champions our home state in the regions of Victoria. This is an historic budget for the regions, one that reflects our government's and my party's paramount belief that this nation's future prosperity is inextricably linked to the health, wealth and opportunity that exists in our regions. The budget builds on the $100 billion investment that we as a government have made since 2013 in infrastructure, digital connectivity, health and education.

As the Treasurer stated last night, no government has invested more in our regions than this Liberal-Nationals coalition. Last night we announced an unprecedented $2 billion Regional Accelerator Program that is open to regional centres across the country that have the ambition and plan to grow, seek to overcome challenges, and seize the new opportunities that this decade will see. It will take a place-based, locally driven, data-focused approach, enlisting the private sector to drive catalytic, transformative economic growth in areas such as manufacturing, education, supply chains, export opportunities and industry development. From Mount Gambier and Devonport to Mildura and Mackay, if these regional centres want to strengthen and grow their local economy and secure a stronger future, this $2 billion program will be available for this purpose. I look forward to prospective councils and regions coming forward with their plans and projects that will create local jobs and build on their own unique local assets.

The centrepiece of the Regional Accelerator Program, which will be open from 1 July, is the $500 million Regionalisation Fund, which will deliver opportunities for individual regions to define and invest in their own ambitions for growth. It is intended that the Regionalisation Fund will provide for larger grants of, say, $10 million or more for transformational projects which will support long-term economic growth and job creation in the regions. (Time expired)

Slade Brockman (President) Share this | Link to this | Hansard source

Senator Henderson, a supplementary question?

Sarah Henderson (Victoria, Liberal Party) Share this | Link to this | Hansard source

Can the minister outline how this budget will grow and strengthen regional communities?

Bridget McKenzie (Victoria, National Party, Minister for Emergency Management and National Recovery and Resilience) Share this | Link to this | Hansard source

As I was saying, from Mount Gambier to Mildura, from Dubbo to Devonport, new budget initiatives such as our $2 billion Regional Accelerator Program will provide strategic investment to our regions and transform them. Examples of how the Regional Accelerator Program will unlock those transformative opportunities include two regionally focused rounds of our Modern Manufacturing Initiative, to the tune of half a billion dollars, so that regional centres right across the country that see their ambition as being an industrial heartland and centre will have the support to make that happen.

We're putting $200 million towards the regional stream of the Supply Chain Resilience Initiative, which will encourage businesses to build resilience across our supply chain—a fragility that was exposed during COVID-19. We're putting $118 million on the table for regional universities to boost and prioritise research and development with industry partners through a regionally focused trailblazer program. (Time expired)

Slade Brockman (President) Share this | Link to this | Hansard source

Senator Henderson, a second supplementary question?

Sarah Henderson (Victoria, Liberal Party) Share this | Link to this | Hansard source

Can the minister explain the risks to regional jobs, families and businesses if regional Australia is not supported by strong, long-term investments?

Bridget McKenzie (Victoria, National Party, Minister for Emergency Management and National Recovery and Resilience) Share this | Link to this | Hansard source

This budget sees the largest investment in rural and regional Australia in our nation's history, and it is the Liberal and National government of this generation that has delivered it. The Leader of the Opposition could hardly even bring himself to mention the word 'regions' in his National Press Club address recently. Those opposite do not have a plan or the policy initiatives to actually drive economic growth in the regions.

We're seeing a transformation of population shift post COVID. A lot more Australians are actually recognising that to live in a community where you know your neighbour, you can have a great local job and a prosperous future is to live out with rural and regional Australians. But it's not going to be those opposite that come to the table with any plan to develop that future. I'm going to be keenly interested in seeing what Mr Albanese delivers tomorrow night and how he focuses on the economic growth opportunities in rural and regional areas, but we know it's only our side of government that has the regions' backs. (Time expired)