Treasurer Jim Chalmers and Senator Anthony Chisholm to visit Gladstone

The Gladstone region will benefit from a significant announcement about the production of green iron, after tax incentives for green hydrogen and processed critical minerals were revealed in the budget.

Federal Treasurer Jim Chalmers hands down the 2024-25 Federal Budget at Parliament House in Canberra. Picture: NCA NewsWire / Martin Ollman

The Federal Treasurer will back in a significant announcement about the production of green iron in Gladstone, after production tax incentives for green hydrogen and processed critical minerals were revealed in the budget last week.

Almost one week after handing down the budget, Dr Chalmers and Education and Regional Development Assistant Minister Senator Anthony Chisholm will visit the Port City as part of the “Albanese Labor Government’s Budget roadshow”, with a key focus on cost of living policies and how Central Queensland will be crucial to a Future Made in Australia.

Gladstone, which is home to a new commercial scale hydrogen electrolyser manufacturing facility, is expected to be one of the areas to emerge as a winner of the budget thanks to ongoing investment in the clean energy industry.

This year’s budget included a new tax incentive of $2 per kilogram, starting from 2027-28, and another $2 billion for another round of the Hydrogen Headstart program to scale up the energy industry as the push for clean energy picks up across the world.

Hydrogen Headstart provides revenue support for large-scale renewable hydrogen projects.

The new commercial scale hydrogen electrolyser manufacturing facility in Gladstone.

“The people of Central Queensland will play an important role in a Future Made in Australia,” Dr Chalmers said.

“Our economic plan and our budget is all about helping people with the cost of living at the same time as we lay the foundations for growth in our economy.

“We’re making big investments in Central Queensland because Central Queensland makes a big contribution to Australia’s economy.

“Labor’s hydrogen production tax credits will help drive investment and jobs in places like Central Queensland and Gladstone will be a big beneficiary.”

Mr Chisholm said the “vision” laid out in last week’s budget could cement Australia’s role as an “indispensable part” of the global economy.

“Central Queensland has been the energy powerhouse of our state for more than a century. Our plan for a Future Made in Australia builds on this proud history by driving investment in emerging industries that will ensure energy and mining jobs continue to be based across Central Queensland,” he said.

Assistant Minister for Education Anthony Chisholm. Picture: Jerad Williams

“There are so many investment opportunities that our region can seize over the next decade when it comes to boosting Australia’s clean energy and manufacturing output.

“The vision laid out in last week’s budget, through the $22.7 billion Future Made in Australia package, can cement our nation’s role as an indispensable part of the global economy.”

As well as investments in the clean energy space, the government announced $467 million of new funding for the Bruce Highway Corridor in the budget.

There was also funding for existing projects including $21 million for the Yeppoon Road upgrade, $7.5 million for the John Peterson Bridge upgrade at Mundubbera, $5.6 million for the Capricorn Highway and Gregory Highway intersection upgrade at Emerald and $9.5 million for the Peak Downs Highway for widening and strengthening between Wuthung Road to Caval Ridge.

As well as infrastructure, it was announced all 137,000 Central Queensland taxpayers in Flynn and Capricornia would get a tax cut and all households would get an energy rebate of $300.

Around 25,000 people across Flynn and Capricornia are also expected to benefit from a $3 billion investment wiping student debt.