1
00:00:00,080 --> 00:00:03,239
Speaker 1: The Commonwealth Government is set to streamline the Northern Australia

2
00:00:03,320 --> 00:00:07,600
Speaker 1: Infrastructure Facility. The program offers low interest loans for infrastructure

3
00:00:07,600 --> 00:00:11,080
Speaker 1: projects across Northern Australia. Now joining me on the line

4
00:00:11,119 --> 00:00:13,600
Speaker 1: to talk more about this is the Federal Minister for

5
00:00:13,880 --> 00:00:16,120
Speaker 1: Northern Australia, Keith pet Good.

6
00:00:15,920 --> 00:00:18,560
Speaker 2: Morning, Hey, good morning, young good moneing you listen.

7
00:00:18,560 --> 00:00:20,880
Speaker 1: Now, Minister. The government is going to be announcing the

8
00:00:20,960 --> 00:00:24,280
Speaker 1: changes as part of next week's federal budget and arraimed

9
00:00:24,280 --> 00:00:27,520
Speaker 1: at making it easier to access the funds. What exactly

10
00:00:27,560 --> 00:00:28,600
Speaker 1: is going to change?

11
00:00:29,720 --> 00:00:31,560
Speaker 2: Will there be a number of changes. Firstly, we're looking

12
00:00:31,600 --> 00:00:34,440
Speaker 2: to make sure that we can lend father. I'm looking

13
00:00:34,440 --> 00:00:37,440
Speaker 2: to expand the eligibility criteria so there's more projects that

14
00:00:37,760 --> 00:00:41,040
Speaker 2: can access the fund and increase the government's risk appetite

15
00:00:41,159 --> 00:00:44,879
Speaker 2: so in places it'll be acceptable for the Commonwealth to

16
00:00:44,880 --> 00:00:47,040
Speaker 2: be the majority of risk holer. And we also want

17
00:00:47,080 --> 00:00:48,960
Speaker 2: to be able to deal with those smaller projects that

18
00:00:49,040 --> 00:00:51,839
Speaker 2: one to five million dollar area in terms of loans,

19
00:00:51,960 --> 00:00:54,280
Speaker 2: and we'll do that through co partnering with other finance

20
00:00:54,320 --> 00:00:55,160
Speaker 2: service providers.

21
00:00:55,320 --> 00:00:57,040
Speaker 1: Do you find that you can get many requests for

22
00:00:57,120 --> 00:00:58,680
Speaker 1: those smaller loans.

23
00:01:00,080 --> 00:01:03,160
Speaker 2: Of the NAPE has been looking at those bigger transformational projects,

24
00:01:03,240 --> 00:01:05,160
Speaker 2: and they do take a lot of time to assess

25
00:01:05,240 --> 00:01:07,200
Speaker 2: and develop and get all their permits and get everything

26
00:01:07,240 --> 00:01:10,319
Speaker 2: pushed forward. But in the post COVID world, I think

27
00:01:10,360 --> 00:01:13,280
Speaker 2: every project will continue to be important. Those smaller ones

28
00:01:13,280 --> 00:01:15,640
Speaker 2: are just as important as a large project, particularly for

29
00:01:15,680 --> 00:01:18,600
Speaker 2: a small regional center. Now five million dollar loan to

30
00:01:18,680 --> 00:01:22,120
Speaker 2: a manufacturing facility, for example that's located in clon Curry

31
00:01:22,200 --> 00:01:26,000
Speaker 2: or somewhere in the territory is incredibly a big deal

32
00:01:26,080 --> 00:01:28,160
Speaker 2: for that local community, and we want to make sure

33
00:01:28,160 --> 00:01:31,800
Speaker 2: that we're providing access equitably right across the North.

34
00:01:31,920 --> 00:01:35,360
Speaker 1: Yeah. Absolutely, I think that it is absolutely essential. And

35
00:01:35,760 --> 00:01:38,280
Speaker 1: I understand that the changes are also going to include

36
00:01:38,319 --> 00:01:42,480
Speaker 1: expanding the program to buy equipment and train staff and

37
00:01:42,600 --> 00:01:47,000
Speaker 1: also expand existing operations. Why are these changes going to

38
00:01:47,040 --> 00:01:49,480
Speaker 1: help businesses and different projects, do you think?

39
00:01:50,760 --> 00:01:53,560
Speaker 2: Well, previously the NAPE was restricted to funding just the

40
00:01:53,560 --> 00:01:56,440
Speaker 2: physical construction work. So it's an easy example if you

41
00:01:56,560 --> 00:01:58,800
Speaker 2: wanted to build a railway line and run some trains

42
00:01:59,160 --> 00:02:01,240
Speaker 2: or the NAPE could fund construction of the track, but

43
00:02:01,280 --> 00:02:04,120
Speaker 2: not the rolling stock, so they couldn't finance the trains

44
00:02:04,200 --> 00:02:06,280
Speaker 2: and the carriages. So you know, if you want to

45
00:02:06,280 --> 00:02:08,120
Speaker 2: be viable, we need to be able to look at

46
00:02:08,160 --> 00:02:10,799
Speaker 2: those projects in a holistic way. Now, it will take

47
00:02:10,880 --> 00:02:13,320
Speaker 2: changes to the legislation. They will have to go through

48
00:02:13,320 --> 00:02:15,520
Speaker 2: the House and the Senate, but we are getting on

49
00:02:15,560 --> 00:02:18,040
Speaker 2: with delivery for the KNAFE. They've already committed some two

50
00:02:18,080 --> 00:02:20,960
Speaker 2: point four billion dollars in investment decisions and we want

51
00:02:20,960 --> 00:02:22,440
Speaker 2: to get out as much as we can, as quickly

52
00:02:22,440 --> 00:02:24,360
Speaker 2: as we can to projects that matter for the North.

53
00:02:24,800 --> 00:02:24,960
Speaker 3: Now.

54
00:02:24,960 --> 00:02:28,400
Speaker 1: I know that obviously there has been still quite a

55
00:02:28,400 --> 00:02:31,520
Speaker 1: bit of funding go out, but really it's not as

56
00:02:31,600 --> 00:02:33,400
Speaker 1: much as what a lot of people would have hoped.

57
00:02:33,639 --> 00:02:36,720
Speaker 1: I mean, are you hoping that these changes get things

58
00:02:36,760 --> 00:02:40,800
Speaker 1: moving and really enable more projects, more businesses to be

59
00:02:40,840 --> 00:02:42,359
Speaker 1: able to utilize the KNAFE.

60
00:02:43,160 --> 00:02:45,239
Speaker 2: Well, one of the challenges has been the delays within

61
00:02:45,280 --> 00:02:48,240
Speaker 2: the states and territories on average two hundred and sixty

62
00:02:48,280 --> 00:02:50,360
Speaker 2: one days to make a decision on something that doesn't

63
00:02:50,360 --> 00:02:52,680
Speaker 2: affect their balance sheet and for which the Commonwealth takes

64
00:02:52,720 --> 00:02:55,800
Speaker 2: all the risk. So we are changing the legislation to

65
00:02:55,880 --> 00:03:00,720
Speaker 2: allow the Commonwealth to make a decision in particular circumstances, directly,

66
00:03:01,160 --> 00:03:03,440
Speaker 2: particularly where politics gets in the way, Katie is you

67
00:03:03,480 --> 00:03:05,840
Speaker 2: know that happens. I mean some of these projects it

68
00:03:05,919 --> 00:03:08,840
Speaker 2: took a year for the states or territories to decide

69
00:03:08,840 --> 00:03:11,639
Speaker 2: whether the coin worth could provide alone two hundred and

70
00:03:11,680 --> 00:03:14,560
Speaker 2: sixty days on average. So we are looking to speed

71
00:03:14,600 --> 00:03:17,040
Speaker 2: this up. And if you're a commercial proponent, you just

72
00:03:17,080 --> 00:03:18,760
Speaker 2: can't wait a year for someone to decide if you

73
00:03:18,760 --> 00:03:19,280
Speaker 2: can have a loan.

74
00:03:19,480 --> 00:03:21,760
Speaker 1: No, you really can't. And Minister, this is something that

75
00:03:21,800 --> 00:03:25,000
Speaker 1: i'd actually caught up with Nicole Madison, the Deputy Chief Minister,

76
00:03:25,080 --> 00:03:28,200
Speaker 1: about earlier in the week and I'd spoken to her

77
00:03:28,240 --> 00:03:31,560
Speaker 1: about it in her portfolio of mining and the issue

78
00:03:31,560 --> 00:03:33,040
Speaker 1: that we were sort of you know we were talking

79
00:03:33,080 --> 00:03:35,680
Speaker 1: about is I'd ask whether there are or why there

80
00:03:35,680 --> 00:03:38,560
Speaker 1: are such delays on some of our mining projects, and

81
00:03:38,600 --> 00:03:41,200
Speaker 1: she'd actually pointed to the fact that in some cases

82
00:03:41,240 --> 00:03:44,240
Speaker 1: it's difficult for these projects to get that capital or

83
00:03:44,280 --> 00:03:46,240
Speaker 1: get that funding. Take a listen to what she had

84
00:03:46,240 --> 00:03:46,600
Speaker 1: to say.

85
00:03:46,920 --> 00:03:50,160
Speaker 3: Well, we've got a raft of different projects they're Katie,

86
00:03:50,240 --> 00:03:52,600
Speaker 3: that are on the books and some of them are

87
00:03:52,680 --> 00:03:55,320
Speaker 3: really close to getting out of the ground, but the

88
00:03:55,400 --> 00:03:57,440
Speaker 3: issue doesn't tend to be approval. So I want to

89
00:03:57,480 --> 00:03:59,920
Speaker 3: be very clear about that. The issue tends to be

90
00:04:00,240 --> 00:04:02,800
Speaker 3: about being able to lock in capital and finance for

91
00:04:02,840 --> 00:04:06,400
Speaker 3: these companies. So that investment journey is some of the

92
00:04:06,400 --> 00:04:08,880
Speaker 3: work that we're doing with the course the Territory Economic

93
00:04:08,920 --> 00:04:14,080
Speaker 3: Reconstruction Commission about how can we unlock capital into the

94
00:04:14,080 --> 00:04:17,360
Speaker 3: Northern Territory through that private sector investment. That's why we've

95
00:04:17,400 --> 00:04:20,680
Speaker 3: got somebody like Gail Kelly there and Andrew liveris helping

96
00:04:20,760 --> 00:04:23,479
Speaker 3: us with that work because they've got that international, global

97
00:04:23,520 --> 00:04:28,280
Speaker 3: experience about working with big companies and big projects and

98
00:04:28,320 --> 00:04:31,520
Speaker 3: how they secure finance. Have also of course met with

99
00:04:31,839 --> 00:04:34,760
Speaker 3: Keith Pints, the Minister for Northern Australia, to discuss the

100
00:04:34,839 --> 00:04:38,160
Speaker 3: NAPE and ways in which you could be more flexible

101
00:04:38,160 --> 00:04:40,880
Speaker 3: and more agile to the needs of the Northern Territory.

102
00:04:41,360 --> 00:04:44,440
Speaker 1: I mean taking those comments into account, Minister, how can

103
00:04:44,480 --> 00:04:46,720
Speaker 1: the NAFE be more flexible and more agile do you

104
00:04:46,760 --> 00:04:49,560
Speaker 1: think for Territorians wanting to access funding?

105
00:04:51,080 --> 00:04:54,200
Speaker 2: Well, well, as I've said, we're expanding the eligibility criteria.

106
00:04:55,120 --> 00:04:57,560
Speaker 2: The capacity to go around the States and territories where

107
00:04:57,600 --> 00:05:00,000
Speaker 2: necessary will take on average two hundred and sixty days

108
00:05:00,200 --> 00:05:03,920
Speaker 2: out of a decision. Increase risk appetite will mean that

109
00:05:04,000 --> 00:05:07,200
Speaker 2: more projects can be funded and those smaller projects that

110
00:05:07,360 --> 00:05:09,960
Speaker 2: one to five million dollar space where we can on

111
00:05:10,080 --> 00:05:12,640
Speaker 2: land through other finance providers, I think will be a

112
00:05:12,800 --> 00:05:16,560
Speaker 2: very important level of finance that can be provided from

113
00:05:16,640 --> 00:05:19,719
Speaker 2: the KNAFE to those smaller projects right across the North.

114
00:05:20,160 --> 00:05:22,719
Speaker 2: So the Prime Minister is absolutely dead keen that we

115
00:05:22,839 --> 00:05:25,640
Speaker 2: use this as a Corona recovery event, and I tend

116
00:05:25,640 --> 00:05:26,279
Speaker 2: to make it happen.

117
00:05:26,400 --> 00:05:28,919
Speaker 1: Yeah, I think it's so incredibly important. I mean for

118
00:05:29,000 --> 00:05:31,039
Speaker 1: us here in the Northern Territory. Today you know, the

119
00:05:31,040 --> 00:05:33,080
Speaker 1: front page of the paper is reporting that there's going

120
00:05:33,160 --> 00:05:37,479
Speaker 1: to be cuts to jobs that impacts Yesterday we heard

121
00:05:37,480 --> 00:05:40,719
Speaker 1: about job cuts at Charles Darwin University. You know, I

122
00:05:40,760 --> 00:05:43,440
Speaker 1: guess the big concern here in the territory is when

123
00:05:43,480 --> 00:05:46,240
Speaker 1: you have job cuts, what you very often see is

124
00:05:46,279 --> 00:05:49,040
Speaker 1: people leave the Northern Territory to go and head into state.

125
00:05:49,080 --> 00:05:51,440
Speaker 1: And what I can see right now is that we

126
00:05:51,560 --> 00:05:55,839
Speaker 1: really need to get you know, some investment in other projects.

127
00:05:55,839 --> 00:05:58,160
Speaker 1: We need to sort of get other major projects going

128
00:05:58,240 --> 00:06:01,359
Speaker 1: to try to keep into in the territory or to

129
00:06:01,440 --> 00:06:04,760
Speaker 1: create new industry so that in turn, hopefully it creates

130
00:06:04,839 --> 00:06:06,839
Speaker 1: jobs and it brings people to the territory.

131
00:06:07,839 --> 00:06:10,040
Speaker 2: Oh well, that's exactly right. And what I'm seeing in

132
00:06:10,080 --> 00:06:12,480
Speaker 2: my travels at the moment is there's a real interest

133
00:06:12,480 --> 00:06:15,840
Speaker 2: in moving back to the regions, into those smaller areas

134
00:06:16,279 --> 00:06:17,839
Speaker 2: where they're not gemmed up in the city and they're

135
00:06:17,839 --> 00:06:19,680
Speaker 2: not living in a thirty story or one hundred story

136
00:06:19,680 --> 00:06:22,200
Speaker 2: building or whatever the case may be. There's been some

137
00:06:22,240 --> 00:06:25,520
Speaker 2: really incredibly strong, real Austraight interest in sales right across

138
00:06:25,520 --> 00:06:27,960
Speaker 2: Region Australia and in the North and it's all about

139
00:06:28,080 --> 00:06:30,040
Speaker 2: jobs that they've got a job to go to. That's

140
00:06:30,080 --> 00:06:30,560
Speaker 2: where we'll go.

141
00:06:31,080 --> 00:06:34,400
Speaker 1: Now. Have there actually been a lot of applications for

142
00:06:34,640 --> 00:06:37,200
Speaker 1: territory projects to the knafe? And I know that there's

143
00:06:37,200 --> 00:06:39,760
Speaker 1: some detail that you can't go into, but is there

144
00:06:39,760 --> 00:06:42,800
Speaker 1: a real appetite to get things moving in the territory

145
00:06:42,960 --> 00:06:45,800
Speaker 1: in terms of what's going through the knafe? Oh?

146
00:06:45,839 --> 00:06:48,680
Speaker 2: Well, there absolutely is, and we've made some decisions already

147
00:06:48,920 --> 00:06:51,000
Speaker 2: as you're were Charles darwen Unie one hundred and fifty

148
00:06:51,040 --> 00:06:54,240
Speaker 2: one million dollar alone plus ninety one million dollars through

149
00:06:54,240 --> 00:06:57,080
Speaker 2: the city deal. So they're all very important. There's work

150
00:06:57,120 --> 00:06:59,840
Speaker 2: around your ports and other locations have to do bar.

151
00:07:00,200 --> 00:07:03,159
Speaker 2: He has been a great success story, as you've said.

152
00:07:03,200 --> 00:07:05,000
Speaker 2: I mean, there are some which are commercial and confidence

153
00:07:05,040 --> 00:07:07,080
Speaker 2: in the pipeline now which we will look to make

154
00:07:07,080 --> 00:07:10,360
Speaker 2: the decisions and announcements on as quickly as we can. But

155
00:07:10,400 --> 00:07:13,040
Speaker 2: once again, the NAP will be a very important source

156
00:07:13,080 --> 00:07:16,320
Speaker 2: of fines for Northern Australia. We need to get that

157
00:07:16,360 --> 00:07:17,720
Speaker 2: money on the ground as quickly.

158
00:07:17,520 --> 00:07:18,280
Speaker 3: As possible now.

159
00:07:18,320 --> 00:07:22,240
Speaker 1: Senator Murray Watt, the shadow spokesman for Northern Australia, reckons

160
00:07:22,240 --> 00:07:24,760
Speaker 1: that he's going to consider the changes carefully once some

161
00:07:24,880 --> 00:07:28,120
Speaker 1: more detail has been announced. He said any changes should

162
00:07:28,120 --> 00:07:31,520
Speaker 1: be aimed at facilitating real job producing projects, not just

163
00:07:31,640 --> 00:07:35,400
Speaker 1: pave the way for more routs from National Party controlled funds.

164
00:07:35,400 --> 00:07:38,040
Speaker 1: He goes on to say that he reckons the name's

165
00:07:38,120 --> 00:07:40,960
Speaker 1: been a great disappointment to many Australians in the North

166
00:07:41,000 --> 00:07:44,920
Speaker 1: and has not delivered what was promised. I mean, what

167
00:07:44,960 --> 00:07:47,560
Speaker 1: would you say to those comments, I mean.

168
00:07:47,480 --> 00:07:50,360
Speaker 2: What complete nonsense. All I want to hear from Murray

169
00:07:50,360 --> 00:07:52,400
Speaker 2: Watt is that yes, the Labor Party will support the

170
00:07:52,520 --> 00:07:54,640
Speaker 2: changes in the Senate and the House. We'll get it

171
00:07:54,640 --> 00:07:56,520
Speaker 2: done as quickly as we can. I mean, he's seriously

172
00:07:56,560 --> 00:08:00,120
Speaker 2: suggesting that Humpty do Barramundy or Charles Darwin UNI or

173
00:08:00,160 --> 00:08:03,160
Speaker 2: anything to do with the ports are a political decision.

174
00:08:03,400 --> 00:08:05,480
Speaker 2: I mean, your listeners I think can see through the

175
00:08:05,520 --> 00:08:09,000
Speaker 2: bs pretty pretty quickly, and mister white Well leaves full

176
00:08:09,040 --> 00:08:09,200
Speaker 2: of it.

177
00:08:09,720 --> 00:08:12,080
Speaker 1: Minister, how soon can we expect some of these projects

178
00:08:12,120 --> 00:08:14,640
Speaker 1: that you spoke about to be announced for the Northern Territory?

179
00:08:16,080 --> 00:08:18,000
Speaker 2: As I've said, there's a pipeline of those projects being

180
00:08:18,040 --> 00:08:20,480
Speaker 2: assessed now that they are commercial in confidence. You know,

181
00:08:20,720 --> 00:08:23,200
Speaker 2: we can't go and breach the confidence of proponents that

182
00:08:23,240 --> 00:08:25,760
Speaker 2: are looking to get their permits done, their financing place,

183
00:08:26,160 --> 00:08:29,200
Speaker 2: their approvals from all the different levels of government. There

184
00:08:29,280 --> 00:08:31,680
Speaker 2: is a process to step through, but the changes that

185
00:08:31,720 --> 00:08:34,160
Speaker 2: I've announced for the NAPE will ensure that those processes

186
00:08:34,200 --> 00:08:36,400
Speaker 2: are as quick as we can possibly make it. We

187
00:08:36,480 --> 00:08:39,280
Speaker 2: are increasing our risk appetite, we are increasing the number

188
00:08:39,320 --> 00:08:41,680
Speaker 2: of projects and types of projects that can be funded,

189
00:08:42,040 --> 00:08:45,480
Speaker 2: and that on lending partnership with small for smaller loans

190
00:08:45,480 --> 00:08:46,760
Speaker 2: I think will be really important.

191
00:08:47,040 --> 00:08:49,800
Speaker 1: Now, Keith, I know that you're probably not going to

192
00:08:50,000 --> 00:08:53,560
Speaker 1: give us any any scoops here, but the federal budget

193
00:08:53,600 --> 00:08:56,079
Speaker 1: being handed down next week, can we expect much more

194
00:08:56,160 --> 00:08:57,160
Speaker 1: for the Northern Territory.

195
00:08:58,160 --> 00:09:00,360
Speaker 2: All that the answer is yes in the second answer

196
00:09:00,480 --> 00:09:02,560
Speaker 2: is of course, and the third answer is jobs, jobs

197
00:09:02,600 --> 00:09:05,920
Speaker 2: and jobs. But the PMS you would have seen today's

198
00:09:05,960 --> 00:09:08,959
Speaker 2: media around the Manufacturing Fund that will be critical to

199
00:09:09,400 --> 00:09:13,000
Speaker 2: drive development right across Northern Australian In the Northern Territory,

200
00:09:13,600 --> 00:09:16,120
Speaker 2: you know how important it is to look at downstream

201
00:09:16,160 --> 00:09:18,760
Speaker 2: processing to get that value adding You've got some great

202
00:09:18,800 --> 00:09:20,400
Speaker 2: resources that we want to get out of the ground

203
00:09:20,480 --> 00:09:22,360
Speaker 2: and we need to make sure we maximize the value

204
00:09:22,400 --> 00:09:23,200
Speaker 2: for the Australian people.

205
00:09:23,520 --> 00:09:26,640
Speaker 1: Well, Minister for Northern Australia, Keith Pete, always good to

206
00:09:26,679 --> 00:09:28,360
Speaker 1: catch up with you. Thanks so much for your time

207
00:09:28,440 --> 00:09:28,840
Speaker 1: this morning.

208
00:09:29,480 --> 00:09:30,559
Speaker 2: Thanks very much, great with you.

209
00:09:30,720 --> 00:09:34,320
Speaker 1: Thank you and well that is the Minister for Northern Australia,

210
00:09:34,400 --> 00:09:35,240
Speaker 1: Keith Pitch There