Local News

Snowy Hydro windfall going to regional NSW

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The NSW Government legislated its windfall from the sale of the Snowy Hydro and they’ve announced just where it’s going to be spent

The Government promised that the $4.15 billion would wholly and solely be spent in regional areas.

Deputy Premier and Minister for Regional NSW John Barilaro today announced the money would be funnelled into five key areas.

Mr Barilaro said water security, rail and road passenger connectivity, freight linkages, digital connectivity and special activation precincts are the key priorities for investment.

“The NSW Liberal and Nationals Government is delivering a once-in-a-lifetime fund to build the infrastructure that will carry our state into the future and fulfill the bold legacy left by the Snowy Hydro Scheme,” John Barilaro said.

“These are big picture projects that generations before us have dreamed of and generations that follow us will benefit from.”

“Dams and pipelines are a key priority and work is already underway on water security projects to enable NSW to better manage our most precious resource,”

“Creating special activation precincts to attract and grow businesses in regional NSW will underpin economic growth in regional NSW. Work is underway to build an inland port at Parkes as a special activation precinct to leverage the investment in the inland rail.”

Specifically the key areas are:

  • WATER SECURITY IN PRIORITY CATCHMENTS: Drought conditions across NSW highlight the importance of investing in water infrastructure at a regional and catchment level to increase community and industry resilience.
  • INVESTING IN DIGITAL CONNECTIVITY: The NSW Liberal and Nationals Government will aim to make NSW mobile black spot free.
  • IMPROVE PASSENGER ROAD AND RAIL: Making regional travel faster, safer and easier between regional and metropolitan centres.
  • FREIGHT LINKAGES: Improving regional freight networks to global gateways to increase exports, including the investigation of international air freight.
  • ESTABLISH SPECIAL ACTIVATION BUSINESS PRECINCTS: For investors this means access to unencumbered employment lands, streamlined planning approvals, investment in enabling infrastructure, and targeted financial incentives.

Labor has dammed the announcement though as they say an Auditor-General’s report on the state finances found the Liberals and Nationals lost $122 million when the NSW share in Snowy Hydro was sold to the Commonwealth.

This is a cruel joke by the Liberals and Nationals. Every year they say they are going to deliver and every year they string the community along,” said Country Labor candidate for the Upper Hunter Martin Rush.

“Now we learn that the Liberals and Nationals have blown $122 million on the sale of the Snowy Hydro – money that could have been spent on schools, hospitals and roads.”

Image credit: NSW Treasury