Cash splash to save Reef: Details of Labor’s $1.2 billion budget plan to tourism icon revealed

A $1.2 billion Budget blueprint to save the Great Barrier Reef from the ravages of climate change will be announced on Friday.

Helping coral adapt to higher temperatures, restoring mangroves and sea grass to capture more carbon and cash for a new research centre in Gladstone will make up part of Labor‘s $1.2 billion plan to save the Great Barrier Reef.

It will be announced by Environment Minister Tanya Plibersek in Brisbane on Friday ahead of next week’s Federal Budget, and includes $204 million in new funding allocated between now and 2030.

It includes $91 million in “shovel-ready projects”, such as $35 million for “blue carbon” projects which involve restoring mangroves and sea grass which can store more carbon than trees.

Environment Minister Tanya Plibersek. Picture: NCA NewsWire / Naomi Jellicoe

Commercial fishers will also be put under watch, with more money for monitoring how they deal with protected species and support to help them comply with the rules by upgrading their equipment.

There will also be $20 million towards helping coral adapt to the warmer climate as well as restoring damaged sections of the Reef.

Central Queensland University at Gladstone will receive a $15 million grant to set up the new Coastal Marine Ecosystems Research Centre, with the money to go toward hiring more specialist staff and setting up new research laboratories.

Ms Plibersek said the funding was bringing forward actions that were long overdue.

“Budget funding will improve water quality by restoring and expanding mangrove and sea grass beds to reduce sediment run-off into the Reef and provide important habitat for marine life,” she said.

“We will also work with commercial fishers to reduce by-catch through modifying and upgrading fishing equipment.

Yellow tailed fusiliers swim past other schools of large fish and hard and soft corals growing on Saxon Reef, part of the World Heritage listed Great Barrier Reef Marine Park off the coast of Cairns. Picture: Brendan Radke

“This funding will deliver stronger monitoring to ensure water quality targets are met, improve our understanding of blue carbon ecosystems and support traditional owners to manage land and sea country.”

Special envoy for the Great Barrier Reef Senator Nita Green said the Reef contributed more than $6 billion to the economy and supported more than 64,000 jobs.

“As well as a crucial investment for our natural environment, this will support the entire Queensland – and Australian – economy,” she said.

Other Reef projects include $13 million to improve Paddock to Reef data collection, $8.6 million for Marine Monitoring Program, $8 million to identify priority areas for habitat restoration.

Labor promised the Reef funding during the election campaign earlier this year.

Originally published as Cash splash to save Reef: Details of Labor’s $1.2 billion budget plan to tourism icon revealed