On Tuesday night, Budget 2021-22 was delivered by the Treasurer, the Hon Josh Frydenberg MP, returning to the conventional May timeslot.
The Australian Government’s focus on stimulating economic growth and job creation was evident as Australia looks beyond economic recovery. Budget 2021-22 has committed over $1.42 billion directly to the north for new measures to secure long-term economic success. This investment is supported by national measures to grow the northern economy, and in turn, assist our national road to recovery.
New measures were announced for the north’s resources and energy sectors, water infrastructure, roads and important regional development programs which will concentrate job creation and business growth across the north and anchor a pipeline of infrastructure and regional investments for a strong northern economy.
At a national level, measures relevant to the north include over $850 million to help the agriculture industry reach its goal of $100 billion in production by 2030, the establishment of a reinsurance pool for cyclone damage and related flooding, and a targeted mitigation program for strata properties to support the government’s objectives of improving resilience and insurance affordability, and the Indigenous Skills and Job Advancement program. Importantly, this Budget also saw essential investments in social initiatives including the Women’s Economic Security Package for an incredible spectrum of initiatives including career pathway programs and boosting STEM participation.
Northern Australia continues to play a key role in Australia’s economic recovery and future growth. The investment outlined in Budget 2021-22 reaffirms the northern Australia development agenda as a national vision, building on key investments for our regions.
I’d also like to acknowledge the recent interest and encouraging feedback on the announcement of Our North, Our Future: 2021-2026. We are very pleased to have your support as we all embark on this plan for the next five years.
For those travelling to Darwin for the Food Futures Conference next week, come and visit us at the Office of Northern Australia trade stall.
Best regards
Linda Lee
General Manager - Office of Northern Australia
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