Media Release

KENNEDY MP, Bob Katter says Australia can recover from the economic downturn caused by COVID-19 by initiating a major public works program for the regions, funded by the Clean Energy Finance Corporation (CEFC) with expanded investment parameters to include all types of infrastructure and industry.

“There will be a depression cycle over the next two or three months; the Federal Government has realised this and is acting - but it is only offering a short term solution,” Mr Katter said.

“We must go into public works and we must fund ‘make money projects’ rather than ‘absorb money projects’.

”“The Clean Energy Finance Corporation is a banking authority that has already showed extraordinary success even though it’s confined to environmental developments.

“The CEFC’s investment parameters must be expanded by Scott Morrison with the flick of a pen and its capital could be increased to $50b allowing it to invest in up to $500b worth of nation building projects.”

Mr Katter said regions, such as north Queensland with low numbers of coronavirus cases and low community transmission were optimal for the program.

“Brisbane, Sydney and Melbourne are contagion areas and therefore bringing workers together on public works programs is problematic and inhibited,” he said.

“Surely now is the time to open up the massive resources of north Queensland. Quarantine us and then mobilise your public works.

“North Queensland has shovel-ready projects. Copperstring 2.0 will open up the mines in north-west Queensland with cheap and reliable electricity.

“The rail line into the Galilee Basin coalfields will allow for production of over $20b a year.

“The Hells Gate Dam with its zero emission bio-technologies will be worth $3.5b a year to Australia’s economy.

The Member for Kennedy is also calling for a tailored solution for small businesses in response to the coronavirus caused recession.

“The Prime Minister must insist the banks support small business. If they 100% guarantee immediate loans then these businesses run by ordinary Mum and Dad Australians will survive in the short term.”

—ENDS—