Coalition Plans $20 Billion Future Fund for Regional Australia

The Coalition has announced a proposed $20 billion Regional Australia Future Fund (RAFF) aimed at providing perpetual funding for regional, rural, and remote Australia if they win the upcoming federal election. This initiative seeks to eliminate the need for constant lobbying for regional infrastructure support by ensuring a reliable funding stream, with an initial $5 billion seed capital sourced from scrapping a Labor renewable energy initiative. The fund is expected to be bolstered by 80% of any budget surpluses driven by elevated commodity prices, with the goal of reaching the full $20 billion in four years. The Coalition also plans to establish a Future Generations Fund aimed at reducing national debt and supporting essential infrastructure projects. Key priorities for RAFF include improving transport networks, growing the regional health workforce, and enhancing childcare services. This funding strategy is viewed as a vital step towards addressing the unique challenges faced by regional communities and ensuring sustainable economic development.