$1 billion for regions

The Rural City of Wangaratta is calling on Premier Ben Carroll and Opposition leader Jess Wilson for a dedicated Regional Budget Statement and the restoration of a regional economic development funding program in the first state budget after November’s election. The call was this week formally backed by mayors and CEOs representing the regional cities of Ballarat, Bendigo, Geelong, Horsham, Latrobe, Mildura, Shepparton, Warrnambool and Wodonga, under the Regional Cities Victoria (RCV) alliance. RCV is calling on both major parties to commit to a $1 billion Regional Growth Fund over four years to deliver the essential infrastructure needed to unlock housing, deliver growth infrastructure, attract private investment and create regional jobs. “The Rural City of Wangaratta developed the Regional Development Fund model, now endorsed by Regional Cities Victoria, and we have been taking that proposal directly to state government and political representatives as part of our ongoing advocacy," rural city mayor Irene Grant said. “This kind of dedicated investment can unlock housing, boost productivity, attract private investment and create jobs right across regional Victoria. ”“Regional communities need more than individual funding announcements. "We need sustained, transparent investment that gives councils the certainty to plan for growth, unlock housing and deliver the infrastructure our communities need." RCV chair Cr Ben Blain said regional Victorians deserved a clear picture of how much state government investment was coming their way. He said Victoria previously published a dedicated Rural and Regional Budget Information Paper, but it was discontinued from the 2023-24 Budget – the same year the Regional Jobs and Infrastructure Fund (RJIF) was scrapped. "The Parliamentary Budget Office found regional Victoria received just 12 per cent of asset investment in the 2025-26 Budget," he said. “We’ve had regional Budget reporting before. "Let’s bring it back and see the promised investment on the books, in black and white. “This is about accountability. "If governments say they’re investing in regional Victoria, regional Victorians should be able to see it and measure it.” RCV acknowledged Labor’s recent Royalties for the Regions announcement, which would reinvest mineral royalties into regional Victoria, and the Coalition’s commitment to a 25 per cent Fair Share Guarantee for regional infrastructure spending. However, Cr Blain said neither commitment establishes a dedicated, project-based funding program to support regional economic development, comparable to the former RJIF. “Both major parties have recognised that regional Victoria needs greater investment, and that's a no-brainer," he said. "But we still don’t have a commitment to a dedicated fund that gets important economic development projects off the ground."

$1 billion for regions

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