2022 Federal Budget: What are we hoping to see?
The Federal Budget will be handed down by the Morrison Government tonight, and it's worth remembering that this one is an election budget. Major announcements are likely to be spread between the Budget and the election campaign as the major parties pitch to the nation ahead of the May poll.
At first glance it appears that the big focus tonight will be on addressing cost-of-living pressures around the nation.
This is great news for the communities across North Queensland, and hopefully with the activation of the reinsurance pool for cyclone and flood related damage mid-year, we might all get a little more breathing room in the household budgets over the coming months.
Beyond cost-of-living pressures, here are some of the things from Unlock the North that we'll be looking out for tonight:
Infrastructure
- Hells Gates Dam funding - SECURED
- Copper String 2.0 - connecting the national grid with the world's best renewable zones, and Australia's most valuable critical mineral reserves.
- Hydrogen - funding to establish the common user infrastructure that will unlock further private investment
- Mount Isa to Townsville Supply chain - road and rail upgrades including the TEARC to improve access to our export terminal at Port of Townsville
- Stone River Weir - feasibility study and business case funding
Defence
- NQ SPARK - high-tech facility bringing advanced computing and simulation capabilities to the defence, health and research industries in Townsville
Industrial Land
- Lansdown Eco-Industrial Precinct - funding for trunk infrastructure (Committed by Opposition as an Election promise)
- Charters Towers - traffic and highway works to make the 'Triple 7' block accessible from the Flinders for heavy vehicles
- Burdekin - trunk infrastructure funding to open up more industrial lots to facilitate business growth.
Utilities
- Regen Aqua - macro algae wastewater processing at Burdekin, Charters Towers, Hinchinbrook and Townsville City Councils to improve urban runoff water quality.
Health Knowledge and Research
- TROP IQ - funding for precinct infrastructure plan, so we can harness, commercialise and share our tropical knowledge expertise
- Connection to the Singapore Submarine Data Cable to provide greater digital bandwidth in our region, and provide data security at the ASMTI at Greenvale.
- Northern Australian Critical Minerals and Metals Institute - funding to establish a centre of excellence, to develop sovereign capacity in the increasingly important critical minerals industries.
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