This Budget is the next stage in the Government's economic plan, building on commitments from the 2016-17 Budget and the 2016 election.
Backing regional Australia
Growing regional communities
Building growth in our regions remains a key focus of the Government, ensuring the benefits of economic growth are shared across the country.
It is vitally important that Australia’s regions are supported with modern infrastructure that makes a real difference to regional economies and creates jobs.
Melbourne to Brisbane Inland Rail
Work on one of the largest investments ever seen in regional Australia, the Melbourne to Brisbane Inland Rail, will commence in 2017-18.
The Government will provide an additional $8.4 billion equity investment to the Australian Rail Track Corporation to deliver Inland Rail.
Regional Growth Fund
The Regional Growth Fund will invest $472 million in regional infrastructure projects that back our regions’ plans to adapt to the changes taking place in the economy. This will include $200 million for a further round of the successful Building Better Regions Fund.
Regional Investment Corporation
The Government will provide $28.5 million to establish the Regional Investment Corporation to streamline the delivery of $4 billion in concessional loans. This includes the $2 billion National Water Infrastructure Loan Facility and the $2 billion Farm Business Concessional Loan Scheme. These loans will help secure growth, investment and resilience in rural and regional communities.
Backing our regions
The Government is committed to building the capacity of our regional communities by boosting their skills base and supporting job creation.
The Government is also investing $24 million in Rural and Regional Enterprise Scholarships and $9.1 million to provide regional Australians with better access to mental health services through the telehealth program.
The Government is also exploring opportunities to decentralise Commonwealth agencies to broaden the range of skills and job opportunities in our regions.