Northern Australia Infrastructure Facility Amendment Bill 2026

Senator McDONALD (Queensland—Deputy Leader of the Nationals in the Senate) (19:16): I rise to foreshadow coalition amendments to the Northern Australia Infrastructure Facility Amendment Bill 2026 to make the NAIF permanent. While the coalition supports the action of the Northern Australia Infrastructure Facility Amendment Bill 2026 to extend the NAIF for a further 10 years from 30 June 2026 to 30 June 2036, we do not believe that 10 years is enough for the long-term development of northern Australia.

I'm pleased to announce that the coalition reaffirms our longstanding commitment to northern Australia by making the Northern Australia Infrastructure Facility permanent. We believe that northern Australia should not be revisited in 10 years to see if it is worthy of more investment. The north's development should be a permanent part of the government's agenda.

Northern Australia is one of Australia's greatest strategic and economic assets, and it should have an investment mechanism that matches its permanent importance to our nation. The independent review into the Northern Australia Infrastructure Facility, chaired by the Hon. Warren Snowdon and assisted by Professor Peter Yu and Dr Lisa Caffery, was tabled in parliament on 27 August last year.

It has taken nearly 12 months for the government to land this extension. There is no bold vision for northern Australia in Labor, I'm afraid, much like when the incoming Albanese government abolished the Joint Standing Committee on Northern Australia and had to be dragged kicking and screaming to reinstate a temporary version. The coalition recognised the significant economic contribution of northern Australia to the nation when it established the NAIF in 2016, and so too did this independent review panel.

The review panel recognised that northern Australia, which is home to only 5.1 per cent of Australia's population and comprises more than half its land mass, produces a gross regional product significantly above the per capita rates for the rest of the country. They acknowledged that since 2016, when the coalition government established the NAIF, it has provided crucial financial assistance, which has bridged gaps in commercial financing to build infrastructure across the north, which supports sustainable economic and subsequently social outcomes.

And the NAIF will continue to do so. From the extensive consultations with stakeholders across northern Australia, the review panel reported that the NAIF was a known and trusted entity in supporting development and is seen as a key part of northern Australia's economy. Stakeholders see the NAIF as part of the northern Australia ecosystem.

Given that feedback from stakeholders, the review panel assessed the NAIF's current legislated time limit, with its investment window for making investment decisions ending on 30 June 2026. Its very first recommendation to government was as follows: 'That the government remove the existing time limit to allow the Northern Australia Infrastructure Facility to make investment decisions in perpetuity.' It beggars belief that the Labor government has chosen to ignore it.

Northern Australia has the fertile soils and water resources to grow more food and fibre for food and energy security. Northern Australia has the traditional minerals and rare earths, the gas and the critical minerals to fulfil much of Australia's and our allies' needs. Northern Australia is the front line of our defence.

We recognise the unlimited opportunity of providing sustainable and resilient economic development in the north. The NAIF has financed projects in the sectors of agriculture and water, energy, resources, social infrastructure, transport and logistics across Queensland, Western Australia and the Northern Territory. It has delivered public benefit through new employment opportunities, regional economic growth and population growth, and an overall confidence across half of our country and boundless economic benefit for all Australians.

We recognise the role the NAIF has in alleviating economic and social disadvantage. It improves the lives of Indigenous peoples and communities. The NAIF delivers key infrastructure projects and contributes to realising the Critical Minerals Strategy 2023-2030.

The NAIF delivers full stop, and the need for it to keep delivering will extend far beyond Labor's arbitrary 2036 deadline. Since the coalition government established the NAIF in 2016, it has supported 33 projects, underpinned by $4.3 billion in commitment as of December 2025, with the public benefit to northern Australia forecast to be $33 billion—or $7.60 in forecast public benefit for every $1 of NAIF finance.

The NAIF supports over 18,000 jobs across the north. Northern Australia has always been an exciting and challenging frontier with boundless opportunity. The NAIF is perfectly poised to encourage and support investors in converting risk and opportunity into jobs, strong communities, transformational infrastructure and an overall robust economy for the whole of Australia to crowd in investment.

We support a permanent northern Australia infrastructure facility that provides certainty to investors, confidence to regional communities and a commitment for generations to come. It is our collective responsibility to continue to support the existing significant impact as well as continued progress and future opportunity presented by continued investment in the Northern Australia Infrastructure Facility.

We know it is northern Australia that will provide the next wave of opportunity and prosperity for Australia. It is northern Australia that will host the new, exciting agricultural projects. It is northern Australia that will host the critical minerals and traditional commodities boom.

It is northern Australia that hosts the most innovative and exciting communities, and those people deserve the same opportunities that southern Australia has enjoyed for generations. It is northern Australia where we will see located our important defence capabilities that deserve better infrastructure and more connected social and health benefits. For all those reasons, it is northern Australia that absolutely requires the infrastructure facility to be made permanent.