Regional road projects were the big losers yesterday when, despite Labor's best efforts, the legislation to establish the National Party’s latest slush fund was passed.
Robbing Peter to pay Paul, the Morrison Government stole $3.9 billion out of the Building Australia Fund to fund its Future Drought Fund. That is bad news for regional Australia.
Labor’s Farm Productivity & Sustainable Profitability Fund will invest the same amount of money to help our farmers build drought resilience without taking roads and rail money away from our regions. We will fund it from the Budget and we’ll invest the same amount of money that the Government has promised but we will invest it more quickly and more effectively.
Our expert Panel of Guardians, including economists, agronomist and scientists will develop a plan and we will fund it through the Farm Productivity & Sustainable Profitability Fund.
Investing in our farmers is sound policy and it should be funded in its own right. It should not come at the expense of other much needed regional infrastructure.