NAIF TO BE MADE PERMANENT UNDER THE COALITION

In a visit to Cairns, the Leader of the Opposition, the Hon. Peter Dutton MP, along with Shadow Minister for Northern Australia, Senator Susan McDonald, and Jeremy Neal, the LNP candidate for Leichhardt, today confirmed that the Northern Australia Infrastructure Facility (the NAIF), would become permanent under an elected Dutton Coalition Government.  

The $7 billion fund has underpinned around 20,000 jobs, yet currently has a sunset clause of 30 June 2026.   

Neither Labor’s 2024/25 budget, nor their recent Mid-Year Economic and Fiscal Outlook (MYEFO), gave any commitment to future funding of the NAIF. Labor’s refusal to commit to extending the NAIF beyond 2026 confirmed that Prime Minister Albanese had turned his back on regional jobs and regional economies.  

“Northern Australia is front and centre of the Coalition’s plans to get Australia back on track. This commitment demonstrates the Coalition’s ongoing investment in Northern Australia to ensure economic success and more jobs for the region. The Coalition wants to deliver job security and investment security for Northern Australia, and even more economic investment, in particular here in Cairns”, Mr Dutton said.  

“The Coalition established the NAIF, we funded the NAIF, and we legislated the NAIF. And now the Coalition under my leadership will ensure the NAIF is a permanent fixture in government.” 

“We want to power-up Northern Australia’s economy and jobs market. Making the NAIF permanent will give private enterprises the long-term certainty they need to invest in the North. It is critical to the region’s long term economic success which relies on the successful collaboration of public and private sectors to achieve economic growth and opportunity”, Mr Dutton said.  

Shadow Minister for Northern Australia, Senator Susan McDonald, said the Coalition wanted the dedicated Facility for northern Australia to be a permanent part of Australia’s economic development.  

“The NAIF has proved its success. That’s why the Coalition put another $2 billion into the Facility ahead of the last election and successfully pressured Labor into keeping it there,” Senator McDonald said.   

Senator McDonald said since its creation in 2016, the NAIF had supported 33 projects underpinned by $4.4 billion in commitments from the loan facility fund.  

“It has driven investment in northern manufacturing, airport upgrades, community housing, beef processing and steelmaking. And that has meant more jobs, better jobs, and higher paying jobs in the north. The Coalition is committed to seeing the north not only grow as one of Australia’s economic capitals, but also as an economic capital of Asia and the Pacific”, Senator McDonald said.   

The LNP candidate for Leichhardt, Jeremy Neal, welcomed the announcement.  

“This is a great announcement for Cairns and for Northern Australia. We want to ensure Northern Australia is the economic powerhouse that we know it can be, and today’s announcement is an important part of achieving this. Ensuring the NAIF has a permanent home here in Cairns means more jobs and investment for Leichhardt,’ Mr Neal said.  

Ensuring we unlock the potential of Northern Australia and unleashing its economic strength through the NAIF is an important part of the Coalition’s positive plans to get our country back on track  

 ENDS