Early payment of Financial Assistance Grant program funding
27 June 2018
- Early payment of more than $1.2 billion enables councils to initiate crucial new projects
- Program enables councils to spend the funding according to local priorities
Councils from around Australia will be able to start work on crucial new projects immediately following an early cash injection of almost $1.2 billion under the Financial Assistance Grants program from the Coalition Government.
Minister for Regional Development, Territories and Local Government John McVeigh said the Government has made an early payment of 50 per cent of the 2018–19 Financial Assistance Grants funding.
“This early cash injection of more than $1.2 billion will allow councils to start work straight away on new projects and to benefit from additional interest on cash in the bank,” Dr McVeigh said.
“These vital funds support local government to deliver the infrastructure and services communities need across Australia, such as critical transport, health, recreation, environmental and employment projects.”
Dr McVeigh said supporting local councils to provide essential services to Australians is a key priority for the Coalition Government.
“We recognise the importance of giving councils the power to determine local priorities in their region,” Dr McVeigh said.
“Under the Financial Assistance Grants program Australia's 546 councils have access to untied funds to allow them to spend the money according to local needs.
“The Coalition Government also supports local councils through a range of other targeted funding programs including Roads to Recovery, Bridges to Renewal, the Building Better Regions Fund and Regional Growth Fund.”
More information about the Financial Assistance Grant program, including funding being made to individual councils across Australia, is at: www.regional.gov.au/local/assistance