In its pre-Budget submission, RDA Illawarra advocated for the region in four key areas: Infrastructure; Port Kembla Precinct Development, People and Housing.

Wollongong got a specific mention in the Treasurer’s speech, but what does the budget deliver to the region? The response from the Australian Government has been overall positive to our advocacy, as shown below:

Infrastructure

Picton Rd Duplication and improved rail links to/from Port Kembla. 

  • To ensure regions stay connected, the Government maintains its commitment to a 10-year $120 billion infrastructure pipeline
  • The Government has commissioned an independent strategic review of the Infrastructure Investment Program. This will decide which Federally funded investment projects will proceed, and when
  • Both Picton Rd and a better rail service to/from Port Kembla remain on the ‘Infrastructure Priority List’
  • RDA Illawarra welcomes the strategic review in the belief that these two projects will compare favourably with competing requirements and will be co-funded for completion by the Australian and NSW Governments.

Port Kembla

Hydrogen Hub & Fleet Base East

  • New clean energy industries – including hydrogen – gained significant support
  • Establishment of a national Net Zero Authority will ensure the workers, industries and communities with a reliance on fossil fuels can seize the opportunities of Australia’s net zero transformation
  • The Australian Government has allocated $2bn to establish Hydrogen Headstart, helping to underwrite large-scale renewable hydrogen projects through competitive hydrogen production contracts. This will be of direct benefit to projects planned in the Illawarra
  • A decision on the location of Fleet Base East will not be made until towards the end of this decade, with Port Kembla one of several sites under consideration.

People

Support for Female Workforce Participation, Aged Care & Skilled Migration

Female Workforce Participation:

  • Child Care Subsidy rates lifted, providing cheaper childcare for about 1.2 million families. A typical family earning about $120,000 with a child in care three days a week will save about $1,700 a year.
  • $70M to upskill and train more childcare workers
  • Single Parent payment cut-off age raised from 8 to 14 years (majority of single parents are women).

Aged Care:

  • 15% pay increase for 250,000 aged care workers from 1 July. Workers estimated to receive an extra $7,000 annually from the pay rise
  • $81M support for aged care providers with financial viability concerns.

Skilled Migration:

  • 2023-24 Migration Program set at 190,000 places, with regional category planning level of 32,300 and state/territory nominated category at 30,400 places.
  • This allows regional employers to attract and retain skilled workers in areas where skill shortages are impacting delivery of essential services and goods – including the completion of key housing and infrastructure projects. Illawarra has an infrastructure project pipeline worth $33 billion
  • Temporary Skilled Migration Income Threshold (TSMIT) increased to $70,000. This will assist in ensuring that the program continues to attract skilled migrants that complement the skills of the Australian workforce.

Housing

More dwellings, more social and affordable housing

  • The October Budget included $10.0 billion for the Housing Australia Future Fund and Regional First Home Buyer Guarantee to support regional Australians to get into their own homes sooner.
  • From 1 July 2023, the Government will expand eligibility for the First Home Guarantee and Regional First Home Buyer Guarantee to other eligible joint borrowers, beyond the current scope of married or de facto couples.
  • The National Housing Finance and Investment Corporation (renamed as Housing Australia) will be able to provide additional financing to Community Housing Providers for more social and affordable housing through the Australian Housing Bond Aggregator, with the Government increasing its guarantee of liabilities by $2.0 billion, to $7.5 billion.
  • The Government is investing around $2.7 billion over 5 years from 2022–23 to increase the maximum rates of Commonwealth Rent Assistance by 15 per cent ($15 - $30 per fortnight depending on the household type), benefitting around 300,000 recipients in regional and remote Australia.

 Read more about the Budget 2023-24 here.