The Queensland Resources Council (QRC) – the not-for-profit peak industry association representing the commercial developers of Queensland’s minerals and energy resources – has welcomed the Federal Government’s announcement of a $5 billion infrastructure initiative for Northern Australia in the 2015 Budget.
In a media release, QRC said that the initiative is certain to boost the resources sector potential of Cape York and the North West minerals province. QRC also welcomed the $100 million investment in the Reef Trust to improve the quality of the water in the Great Barrier Reef and combat infestations of Crown of Thorns Starfish.
“Taken together with an additional $100 million from the Queensland government, this budget is further confirmation that both governments are serious about the health of the Great Barrier Reef,” reads the QRC media release.
The $5 billion Northern Australia Infrastructure Facility will help develop Australia’s north through better road, rail, port and power infrastructure. The Federal Government said the White Paper would be released later this year.
The Government announced that it would also provide $250 million to continue the Drought Concessional Loan Scheme and the Drought Recovery Concessional Loan Scheme for another year. A further $25 million will help reduce the impact of pest animals in drought-affected areas.
For more detailed information about the 2015 Budget, please go to http://budget.gov.au/