An investment in energy and housing has been welcomed by Business Hunter following the delivery of Treasurer Daniel Mookhey’s first NSW State Budget.

With the rising cost-of-living atop everyone’s concerns, the Labor government unveiled what many labelled a “practical” financial plan on Tuesday 19 September.

The big winner, locally, appears to be the Pacific Motorway (M1) extension to Raymond Terrace with $1.4 billion allocated over four years to continue planning and start early works construction on the widening of Hexham Straight.

“There are also large commitments and investments in housing and the new energy economy, which will assist businesses in getting the workers they need and contribute to energy supply reliability and pricing certainty,” Business Hunter CEO Bob Hawes said.

“They are key priorities for the region.”

Even though the Hunter’s peak voice admitted there were no substantial and specific new measures to support business in the budget, there were also no new taxes.

“They honoured the government’s election promise,” Mr Hawes said.

“Let’s be honest, it’s not a business budget.

“Rather, it’s a broad-based budget with a strong social infrastructure overtone, which will no doubt generate flow-on benefits to businesses in the region.

“It also addresses the issue of public sector wages growth and deteriorating economic conditions.

“That should translate to an uplift in spending and bolster business and consumer confidence.”

Importantly, most regional infrastructure priorities that Business Hunter campaigned for, together with local MPs and its members, have been maintained, despite concurrent reviews being undertaken by both the commonwealth and state governments.

“It’s pleasing to see continued commitment for the major roads projects we had been advocating for, including the M1 to Raymond Terrace, Hexham Straight, Newcastle Inner City Bypass, Singleton Bypass and Muswellbrook Bypass,” Mr Hawes said.

“We welcome the continued investment in health infrastructure upgrades across the region, too.

“However, provision for stage 2 of the John Hunter Health and Innovation Precinct has not been singled out.

“So, we will continue to advocate for funding for this important project in the future.

“There also does not appear to be provision for any capital works or development initiatives on the Hunter Park site.

“We appreciate this is a complex project and hope that more definite plans and commitments will emerge following the wider precinct Broadmeadow planning review.”

Business Hunter applauded the investment in energy including $1 billion seed funding for the NSW Energy Security Corporation, $800 million to accelerate the delivery of REZ infrastructure and $5.2 million to establish the Regional Future Jobs and Investment Authorities to work with traditional energy intensive communities such as the Hunter.

Another $1.4 billion was assigned to replace the aging regional rail fleet, which could support increased opportunities in regional manufacturing, aligned to the government’s pre-election vow of a Hunter-based Manufacturing Centre of Excellence.

“Whether it’s in train manufacturing or supporting additional infrastructure enabling works across the rail network, the Hunter is ideally suited and equipped to support the regional train fleet replacement project,” Mr Hawes said.

Key highlights:

Housing

• $1.5 billion from the new Housing and Productivity Contribution to deliver enabling infrastructure in key growth areas, including the Central Coast, Lower Hunter and Illawarra Shoalhaven

Transport

• $1.4 billion to replace the aging regional rail fleet.

Roads

• $1.4 billion over four years to continue planning the Pacific Motorway (M1) extension to Raymond Terrace (state and federally funded) and start early works construction on the widening of Hexham Straight.
• $265.8 million over four years to continue planning, design, and commence pre-construction of the Muswellbrook bypass (state and federally funded).
• $156.3 million over four years to improve safety and travel times on Nelson Bay Road, including commencing work on a 1 km section of the existing road from Salt Ash to Bobs Farm.
• $36.6 million to continue construction of the New England Highway upgrade between Belford and the Golden Highway.
• $19.8 million to continue planning and begin preconstruction of the Singleton Bypass to deliver safer, more efficient journeys for thousands of motorists every day (state and federally funded).
• $9.7 million to continue construction on flood immunity works on the Golden Highway at Mudies Creek (state and federally funded).
• $15.0 million to plan the duplication of the Thornton Rail Bridge, under the Regional Roads Fund (new funding).
• $12.1 million to continue early works activities for the New England Highway Muswellbrook Bypass (NSW and Australian Governments funded).
• $10 million for the Port Stephens Council to start planning and early work for upgrades to a number of roads across Port Stephens under the Regional Roads Fund.
• Continuing planning works to deliver the Nelson Bay Road Upgrade.

Tourism/Visitor economy

• $602,421 for the Hunter Valley Visitor Information Centre Park.

Education/Skills/Training

• The new Medowie High School
• Gillieston Public School Redevelopment
• Hunter River High School Upgrade
• Irrawang High School Upgrade

Regional workforce

• $6 million to support regional community newspapers to improve the long-term sustainability of regionally-focused media.
• Doubling of the incentive payments for healthcare workers moving to regional and remote areas from $10,000 to $20,000.
• $572.3 million to ensure 1,112 nurses and midwives, whose positions were funded only temporarily until June 2024 will be made permanent, with hundreds of these positions in rural and regional New South Wales.

For more business stories:

• Tomago Aluminium celebrates four decades of operation
• Stockland Green Hills has got your school holidays covered 
• AustralianSuper being sued by ASIC for $69 million ‘failings’

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