Labor will replace the failed Northern Australia Infrastructure Facility (NAIF) with a new fund that will help build nationally important infrastructure projects like gas pipelines across Queensland and the Northern Territory.
\nFour years after the $5 billion NAIF was first announced by the Abbott Government, not a single cent has yet been spent in Queensland.
\nIn four years, only $15 million has been spent by the NAIF on infrastructure projects in Northern Australia. It has spent the same on salaries of staff and board members.
\nIt has also been revealed that half of the board members are donors to the LNP.
\nThe NAIF has been an abject failure.
\nLabor\u2019s Northern Australia Development Fund will provide a financing facility and work with infrastructure Australia to identify and support projects of national economic significance \u2013 such as gas pipelines \u2013 in Australia\u2019s north.
\nAs part of these changes, up to $1.5 billion will be set aside to unlock gas supply in Queensland\u2019s Galilee and Bowen basins and connecting the Beetaloo to Darwin and the east coast. This project would support Darwin as a manufacturing and gas export powerhouse as well as increasing supply to Queensland and the eastern seaboard to put downward pressure on prices for gas users. Opening up the Beetaloo alone could provide enough gas to supply the domestic market for up to 400 years.
\nTwo weeks ago, the Auditor-General handed down a scathing report on the failed NAIF.
\nLabor will take into account all of the Auditor-General\u2019s recommendations in the design of the new fund.
\nAs part of these reforms we will also:<\/p>\n
Labor will replace the failed Northern Australia Infrastructure Facility (NAIF) with a new fund that will help build nationally important infrastructure projects like gas pipelines across Queensland and the Northern Territory. Four years after the $5 billion NAIF was first announced by the Abbott Government, not a single cent has yet been spent in Queensland. … Continue reading “NORTHERN AUSTRALIA DEVELOPMENT FUND TO UNLOCK THE ECONOMIC POTENTIAL OF OUR GREAT NORTH”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-2469","post","type-post","status-publish","format-standard","hentry","category-aussie"],"_links":{"self":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts\/2469","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/comments?post=2469"}],"version-history":[{"count":0,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts\/2469\/revisions"}],"wp:attachment":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/media?parent=2469"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/categories?post=2469"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/tags?post=2469"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}