Regions like Downs play leading role in recovery

OVER the past three years Australians and in particular, the people of the Darling Downs and Lockyer Valley, have faced more than their fair share of economic challenges.

Bushfires, a global pandemic, vaccine and rapid test shortages, labour supply constraints, war in Europe, an energy crisis, rising inflation and interest rates and devastating floods have all taken a toll.

Despite these challenges, the people of regional and rural Australia have rolled up their sleeves and got on with the job.

That’s why I recently spent a morning in Toowoomba at a business roundtable with major employers, investors and industry representatives from the Darling Downs before heading back down the range to the Lockyer Valley to meet with farmers about the challenges they’re facing and how the Albanese Labor Government can work with industry to build resilience in our economy.

My visit has left me supremely confident that, despite the overwhelming challenges we face in the near-term, with strategic investments and the right policies, regions like the Darling Downs and the Lockyer Valley can play a leading role in Australia’s economic recovery.

This is a view that’s shared by my colleagues.

It’s why Prime Minister Albanese decided to hold one of the new government’s first Cabinet meetings in Gladstone only a few weeks ago.

It’s why, during my time as Opposition spokesman on Treasury, I made 60 trips to 29 different regional cities and towns across Queensland including half a dozen trips to Toowoomba and the Darling Downs.

And it’s also why, at the last election, we committed $500 million from the National Reconstruction Fund to support the agriculture, forestry, fisheries, food, and fibre industries, to grow our export markets and strengthen our national supply chain resilience.

We know that many Australians are hurting from the latest interest rate rise.

And rising inflation means we’re in for a difficult period over the next few months.

But I believe that if we work together, we can emerge with a stronger, more inclusive, and resilient economy.

When it comes to resilience, they don’t come any tougher than the people of the Darling Downs and Lockyer Valley.

The conversations and discussions I had last week all recognised the significant challenges we are facing but they were also overwhelmingly positive about the future and built on a desire to work together to overcome the challenges we are facing.

As Treasurer of Australia, my challenge and the challenge for the entire Albanese Government is to build a Budget and an economy as resilient as the people I met last week.

That’s what the Job Summit in September and the Budget in October will be about.

If we are to build a stronger more inclusive economy we will need the ideas, the resourcefulness and determination which epitomises our rural and regional communities.

That’s why over the coming months you’ll see so many Federal Ministers out listening to and speaking with rural and regional communities and industries.

I’m looking forward to many more visits to rural and regional Queensland in the future as we work together to build a better future for our nation.