Nationals pledge $20 billion for regional Australia ahead of 3 May election 

Nationals Leader David Littleproud has announced that his party will, should it be successful in securing power during the upcoming 3 May election, create a $20 billion investment fund targeting childcare (sic.), health and infrastructure gaps, if the Coalition wins government.

“This is about making sure that we’re just getting a little bit back to get our fair share of the huge resource boom that this country has enjoyed,” he said.

The fund would get an initial $5 billion injection from the Commonwealth, which the Coalition would raise by scrapping Labor’s $20 billion renewable energy infrastructure fund.

The remaining amount would be funded by what he termed ‘Budget windfalls’ arising from uplifts in resource prices to build the fund over a five year period. The fund would also be legislated so that future governments were unable to wind it back. 

In terms of distribution, a competitive grants process would see not-for-profit organisations chosen to “fill sectors where there is inadequate infrastructure or other gaps,” including early childhood education and care (ECEC). 

This could include upgrades, such as expanding a long day care centre, or offering more services in the regions, like boosting the number of regional Commonwealth-supported university placements.

“You can only apply if that money is going to be out the door and you’re going to see something built or something delivered,” Mr Littleproud said.

The funding is above what the Nationals have already secured from the Liberals under their Coalition agreement, including measures like a minimum 30 per cent housing spend for regional Australia.