What’s Happening?
The Federal Coalition has announced a landmark $20 billion Regional Australia Future Fund, making the Southern Moreton Bay Islands, Coochiemudlo Island, and North Stradbroke Island eligible for vital regional investments. Eligibility will now use the Modified Monash Model rather than Labor’s Greater Capital City Statistical Area.
Why it Matters?
This announcement corrects previous funding injustices that excluded the Bay Islands from regional funding, despite their low median family incomes. Federal Member for Bowman, Henry Pike MP, highlighted the significance of the change, stating, “The Coalition is committed to delivering long-term investment in the infrastructure, jobs, and services that our island communities desperately need — and that Labor has shamefully denied them.”
Local Impact
The new fund guarantees sustained investment into crucial local infrastructure, health care, childcare, tourism, business support, and community services. “This Fund will give regional communities confidence that investment isn’t tied to political cycles — it’s a lasting commitment to their future,” said Mr Pike.
By the Numbers:
- $20 billion Regional Australia Future Fund announced.
- Median family incomes on the Bay Islands are less than half the national average.
- Independent State of the Regions Review to benchmark investments every four years.
Zoom In:
Southern Moreton Bay Islands previously gained inclusion in the Building Better Regions Fund in 2017 after a grassroots campaign. However, the subsequent Labor government replaced it with the Growing Regions Fund, effectively excluding these islands.
Zoom Out:
The Regional Australia Future Fund will capture a portion of commodity windfall profits, providing perpetual dividends. This ensures long-term sustainability and consistent regional investment.
What to Look for Next?
Watch for specific projects and community consultations as the fund is rolled out, alongside the State of the Regions Review’s periodic assessments to ensure fairness and transparency.
