Scot MacDonald
CENTRAL COAST TO REAP SHARE OF SNOWY TRANSACTION
2nd Mar 2018

Parliamentary Secretary for the Central Coast Scot MacDonald MLC, Member for Terrigal Adam Crouch MP and The Hon Taylor Martin MLC have said today’s announcement that regional communities will receive $4.154 billion for infrastructure as part of the Snowy transaction was a huge win for the Central Coast.

Earlier today Premier Gladys Berejiklian, Deputy Premier, John Barilaro and Treasurer Dominic Perrottet announced the Government had agreed to transfer its share of Snowy Hydro to the Commonwealth.

“This will create an investment bonanza in regional NSW with every cent of the proceeds going to rural and regional NSW, including communities on the Central Coast.” Mr MacDonald said.

“I look forward to working with Central Coast Council and the community to put forward submissions for quality infrastructure to improve the lives of families and productivity of our businesses.”

Mr MacDonald said the Snowy transaction is the latest example of the NSW Liberals & Nationals Government delivering for regional NSW. The NSW Government is investing a record $24.4 billion in infrastructure in rural and regional NSW over the next four years.

“As part of last year’s Budget we announced $1.3 billion for a new Regional Growth Fund, and I’m so pleased that today’s announcement means billions of extra dollars will be spent across regional NSW, including in my electorate of Terrigal,” Mr Crouch said.

“The NSW Government’s decision to invest 100 per cent of the Snowy transaction proceeds in rural and regional NSW builds on the NSW Liberals & Nationals’ strong record of support for the regions, including $6 billion from Rebuilding NSW towards regional infrastructure,” Mr Martin said.

The Federal Government announced last year it intended to purchase NSW’s and Victoria’s shares of Snowy and expand the scheme to increase the generator’s capacity.