Labor calls on NAIF to get on with the job

The ALP has called for Queensland representation to be restored to the board of the Northern Australian Infrastructure Facility

The ALP has called for Queensland representation to be restored to the board of the Northern Australian Infrastructure Facility and for the fund to explain why it decided to refuse lending to a major Townsville hotel project.

The party’s spokesman for Northern Australia, Senator Murray Watt, was commenting on revelations the fund had encouraged the Morris Group to apply for lending and then knocked them back.

The Morris Group is planning an $80m five-star hotel and super yacht marina adjacent to its Ville Resort-Casino in Townsville to cater for growing tourism demand.

Morris Group owner Chris Morris this week said the development financier had wasted their time.

Senator Watt said at last count only a pitiful 6 per cent of the NAIF’s $5bn budget had been released to projects in six years.

Senator for Queensland Murray Watt

“At a time when tourism has copped the brunt of the pandemic, the Federal Government and the NAIF should be looking at ways to help the industry grow back stronger,” Senator Watt said.

“Morris Group deserve to know why their application was knocked back.”

He said the lack of a Queensland member on the board could not be helping in getting Queensland projects over the line.

“Queensland deserves to have representatives on the board that will fight for local projects, and the NAIF needs to get on with its job,” Senator Watt said.

The Federal Government is yet to appoint any Queensland board members to the fund nine weeks after the State’s previous directors stood down.

A NAIF spokesman denied the suggestion this had anything to do with advice it would not provide borrowings to the hotel project.

There have been several executives and board members to leave the fund in recent months including former chair Khory McCormick who stepped down in March.

Also, the successful leadership spill by Barnaby Joyce ushered in a new Minister for Northern Australia in July with Queensland MP David Littleproud replacing Queensland MP Keith Pitt.

Mr Littleproud told the Bulletin the fund was an independent body with an independent board.

“Their role is to provide businesses and infrastructure projects with loans to grow and transform Northern Australia. Ms Tracey Hayes is the new chair and there will be two new, additional board members,” Mr Littleproud said.

Mr Pitt announced on July 1, the day before Mr Littleproud was sworn in as minister, that Ms Hayes, a former Northern Territory Cattlemen’s Association CEO, had been appointed chair.

At the same time, Mr Pitt thanked outgoing Queensland board members Belinda Murphy, Karla Way-McPhail and Bill Shannon and said announcements would be made soon on two further NAIF board appointments, including Queensland representation.

Originally published as Labor calls on NAIF to get on with the job