Nigel Scullion (NT, Country Liberal Party, Minister for Indigenous Affairs) Share this | Hansard source

I thank Senator Canavan for his question and note his longstanding and keen interest in supporting the development of Australia's north. Senator Canavan would know well that unlocking the potential of the north is good news for the people of the Northern Territory, north-western Australia and northern Queensland. It is a region that contributes over 11 per cent of our GDP, over 40 per cent of the land mass and yet only five per cent of our population. So it is a particularly different demographic.

In June this year the government released the first ever white paper on developing northern Australia, which is a blueprint for the long-term development of this region. At the heart of this initiative is a $5 billion concessional loan facility, the Northern Australia Infrastructure Facility. This facility will provide up to $5 billion worth of concessional loans over five years, commencing in the 2016-17 financial year. Yesterday, Minister Frydenberg released a consultation paper to seek feedback on the proposed design and operation of the $5 billion Northern Australia Infrastructure Facility. This is a significant milestone in this program, which will encourage and complement investment in northern Australian infrastructure. I have already had positive reports from those that attended the northern Australia showcase that Minister Robb has just hosted in my home town of Darwin. I understand that some of the world's most significant investors were there to explore opportunities for the development of northern Australia.

After many years in the wilderness, it must be so encouraging to so many residents across northern Australia to look forward to increased investment and activities in our communities. There really has never been a better time to be a resident of northern Australia.