TEL responds to the Federal Budget
Townsville Enterprise congratulates the Albanese Government on the delivery of a balanced budget which focuses on easing cost-of-living pressures and investment in the economic success of the nation.
The renewable and green energy transition story remains strong in this budget which aligns with the Townsville North Queensland economic agenda.
Townsville Enterprise CEO, Claudia Brumme-Smith said the budget reflected all our keys asks of the government.
“There are billions of dollars in funding in the budget for green energy, hydrogen and critical minerals that will enable new industries in North Queensland to prosper. Over the coming days and weeks, we will work with the Federal Government on how those buckets can be accessed,” Mrs Brumme-Smith said.
“Townsville North Queensland aligns perfectly with the government’s green energy agenda and the region has the potential to be the country’s green energy superpower.
“It was encouraging to see the Federal Government cement their previous announcements in the budget including the $1.2 billion for Defence investment in our region and $163.4 million for the Australian Institute of Marine Science.
“The Federal Treasurer also announced a tax incentive from 30 to 15 per cent for developers of Build-to-Rent projects which is something we have strongly advocated for and discussed with the Treasurer in Canberra in March.
“Our advocacy around medical training placements and free fee TAFE for new and emerging sectors has been successful, with $4.2 million confirmed for James Cook University and 300,000 placements for TAFE overall.
“We were disappointed however to see the North Queensland Water Infrastructure Authority abolished in the budget. This would see the Townsville office move to Canberra.”
The Federal Budget delivered the following which will benefit the Townsville North Queensland region.
- $192 million over the next four years for the Townsville City Deal for the construction of the Concert Hall
- $1.2 billion for Defence investment
- $163.4 million for the Australian Institute of Marine Science
- From 30 to 15 per cent tax reduction for developers of Build-to-Rent projects
- $4.2 million for James Cook University to support medical training placements
- $2 billion Hydrogen Headstart Program
- $1 billion for investments in value-adding in resources, including processing minerals
- $600 million for Growing Regions Program to invest in infrastructure and community projects across regional and rural Australia
- 300,000 fee free TAFE training placements in critical and emerging sectors
- Benefits for the Great Barrier Reef through the Reef 2050 Plan which will protect the area and secure jobs
