2025/26 Federal Budget Response
Tonight, we saw the Albanese Government handing down his fourth budget with five key priorities:
- Cost-of-living relief
- Strengthening Medicare
- Housing and new home construction
- Education
- Building a stronger, more productive economy
Treasurer Jim Chalmers reinforced that "building a more competitive and productive economy is the best defense against tariffs and economic uncertainty." With Townsville North Queensland’s Gross Regional Product (GRP) projected to grow by almost 40% in the next 10 years, our region is well-positioned to play a crucial role in Australia’s economic future.
As the nation moves towards a Federal Election, Townsville Enterprise remains committed to ensuring North Queensland’s priorities are front and centre for all political parties.
Townsville Enterprise CEO, Claudia Brumme-Smith welcomed the budget’s focus on cost-of-living relief while maintaining key infrastructure investment opportunities.
Budget Delivers Cost-of-Living Support
"The 2025/26 Federal Budget is undeniably a cost-of-living budget, recognising the financial pressures on Australian families. We acknowledge the $17 billion in income tax cuts, expanded bulk billing, student loan discounts, fee-free TAFE until 2035, increased Medicare levy thresholds, and energy subsidies to provide direct relief to households."
Critical Infrastructure for North Queensland
"We welcome the continued $7.2 billion commitment in upgrades for the Bruce Highway, our region’s lifeline and a critical connector for North Queensland. Recent flooding and disasters have further highlighted the urgent need for investment in resilience measures. We urge both the State and Federal Governments to allocate a significant portion of this funding to North Queensland, where it is needed most."
"Townsville North Queensland’s economy is experiencing unprecedented growth, driven by $42.2 billion in investment, with 58% linked to the nation-building CopperString project. Delivering CopperString on time in 2029 remains our highest priority. We need unwavering support from both Federal and State Governments to provide certainty for North Queensland."
"It is encouraging to see the $1.7 billion Future Made in Australia Innovation Fund, which has the potential to support critical projects such as green manufacturing in Townsville, renewable energy initiatives between Townsville and Hughenden, green metals mining and refining between Townsville and Mount Isa, and the production of green fuels in Townsville. This fund includes:
- $750 million for green metals
- $500 million for clean energy technology manufacturing, including electrolysers, batteries, and wind towers
- $250 million for low-carbon liquid fuels
"To enable all these projects to move forward, CopperString is the critical enabler in our region to access these funding buckets."
"Townsville North Queensland is primed to expand sovereign manufacturing, production, fuel and energy security, and critical supply chains. We anticipate ongoing discussions around these opportunities in the lead-up to the election."
"We acknowledge the Defence funding of 2.1% of GRP for the 2025/26 and acknowledge the importance of veteran support in our community."
Addressing the Housing Crisis
"With a growing project pipeline and a rapidly expanding population, housing remains a critical issue for North Queensland. The $33 billion housing fund to boost housing supply is a welcome step, with $4.5 billion committed to addressing infrastructure backlogs and reducing barriers to new housing. Townsville Enterprise has been actively advocating for housing solutions alongside our regional councils, and we will ensure North Queensland secures its fair share of this funding."
Disaster Recovery Funding
"The disaster recovery fund of $13.5 billion is a positive announcement, with details on the allocation of this funding yet to be confirmed. We will work closely with the Federal Government to ensure Townsville North Queensland is well-positioned to receive support, particularly given our recent weather impacts. The tourism sector, in particular, continues to face cancellations and challenges in rebounding, and we will advocate for targeted assistance to aid recovery and long-term resilience."
Securing Regional Connectivity
"We acknowledge the underwriting support for REX airlines to maintain regional connectivity for Townsville and North Queensland. Reliable air services are essential for economic development, workforce attraction, and tourism in our region."
Looking Ahead
"As we approach the Federal Election, we look forward to hearing the Opposition’s position on North Queensland’s key priorities. Investment in productive infrastructure here will deliver long-term economic returns for any government, regardless of political persuasion. Our message is clear—the time for North Queensland’s fair share is now."
