Regional NSW booming under Restart funding

Deputy Premier and Minister for Regional NSW John Barilaro said every cent of a $9.5 billion reservation from Restart NSW is committed to fund projects in the regions.

“Contrary to what the Opposition Leader is spinning, the 2018/19 state budget clearly outlines the Restart NSW Fund has a balance of $32.9 billion, with $9.5 billion or 29 per cent of that fund already allocated or reserved for projects in regional NSW,” Mr Barilaro said.

“A record 500 projects have been approved for funding in regional NSW, upgrading roads and rail, improving water security and revitalising infrastructure including sale yards, airports and tourism facilities with many of the works already well underway.

“On top of this, we have the $4.2 billion Snowy Hydro Legacy Fund of which every cent will be spent solely in regional NSW.

“Labor has already shown it will short-change the people of country and regional NSW, by taking away funds from the regions to shore up seats in Newcastle and Wollongong,” he said.

The Restart NSW Fund was established in 2011 by the NSW Liberal and Nationals Government, to improve economic growth and productivity in NSW, through targeted investment in infrastructure - funding sources include the NSW Government’s asset recycling program and investment earnings.

“The NSW Government is honouring our funding commitment with ongoing and unprecedented investment in a prospering and vibrant regional NSW,” Mr Barilaro said.

“We are proud that the NSW Liberal and Nationals Government created almost 115,000 jobs in regional NSW in the past three years, which is almost twice the amount Labor created in their eight years in office,” he said.

The Restart NSW Fund is in conjunction with the NSW Liberal and Nationals Government’s record investment in regional NSW, which includes the $4.2 billion Snowy Hydro Legacy Fund, $300 million Stronger Country Communities Fund, $100 million Regional Cultural Fund and $100 million Regional Sports Infrastructure Fund.