Coalition racing against time to turn Northern Australia Infrastructure Facility into reality

THE Government will try to push through the Northern Australia Infrastructure Facility to prevent its $5 billion loan becoming a casualty of a double dissolution election.

THE Turnbull Government will try to push through the Northern Australia Infrastructure Facility in Budget week to prevent its $5 billion loan becoming a casualty of a double dissolution election.

The Northern Australia Infrastructure Facility (NAIF) could be a jobs resuscitator in northern Queensland, which is struggling to boost productivity and jobs because of a lack of dams, telecommunications, ports and airports.

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The Government wants the Bill to be put before the Senate as early as May 3 so it can start operating from July.

The Bill has passed the House of Representatives but has yet to be voted on by the Red Chamber.

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If an election was held later in the year, it is likely the Bill would already have passed.

Minister for Resources and Energy Josh Frydenberg said: “The intention is for the Bill to come to a vote.’’

The Government views the NAIF as an election winner that could help secure or maintain margin seats across northern Australia. So far, it has bipartisan support, however, if Labor or the crossbench make amendments to the Bill it could delay its start date on July 1.

Mr Frydenberg believes the NAIF will recharge the Queensland economy by encouraging private enterprise, which can’t get financing, to build infrastructure projects.

Minister for Resources and Energy Josh Frydenberg believes the NAIF will recharge the Queensland economy.

It comes as Minister Assisting the Premier on North Queensland Coralee O’Rourke told State Parliament that the state wanted certainty that the NAIF Bill would pass Federal Parliament.

“What would make today even better for our region, would be more certainty on the future of the NAIF,” Mrs O’Rourke said.

“North Queensland needs answers, so that financing for projects and business cases can be put forward to be assessed and it can start operating from 1 July, as promised,’’ she said.

The NAIF was a key plank from the Government’s white paper on developing northern Australia.