Regional Infrastructure Fund

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The Regional Infrastructure Fund has been established by the Gillard Labor government to fund regional infrastructure projects.

Under the terms of the federal government's Minerals Resource Rent Tax - which applies to iron ore, coal and on-shore oil and gas projects - the Prime Minister and Federal Treasurer have promised to use part of the proceeds for "new and better infrastructure". It is planned that the Regional Infrastructure Fund will have funding of $6 billion over 2010-11 to 2020-21. The government describes the fund as "a major new initiative that will provide an ongoing funding stream for economic infrastructure".

The fund's three aims are to:

• "Promote development and job creation in mining communities, and in communities which support the mining sector;"
• " Provide a clear benefit to Australia's economic development, and to investment in Australia's resource or export capacity;" and
• "Address potential capacity constraints arising from export production and resource projects."

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