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Category: Community Development / Rural / Community and Society / Regional Development

Tasmanian Government to offer council loans to boost development

Tuesday, 27 Sep 2016 04:24:51

Affordable housing is one area councils could get interest-free loans for. (ABC News)

Councils will be able to get interest-free loans for capital works from the State Government to stimulate economic activity in Tasmania's north and north-west.

The Government is unveiling a stimulus package expected to generate $100 million of activity in the region.

Part of the package will see a pool of $60 million being made available to local councils if they bring forward infrastructure projects.

In a statement, Treasurer Peter Gutwein said the interest free loans could be accessed by councils in the north and north-west.

"While local councils are committed to investing in infrastructure, they sometimes find it difficult to invest as much as they would like due to financial constraints," he said.

"This will see councils offered the cash upfront to bring forward infrastructure projects that can begin this year instead of in future years."

Mr Gutwein said the funding model would allow councils to accelerate their existing five year infrastructure plans, and could possibly be extended to other regions in the state.

The unemployment rate in northern Tasmania has hit 7.7 per cent, compared to 6.2 per cent in the south.

The package is also expected to include the construction of affordable housing, and tourism development.

AustraliaPlus


 

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