In the 2015 Australian budget $5 billion was put aside for a northern development fund. Prime Minister Tony Abbott called on Business leaders in Queensland's north to develop a plan for a power station that could be considered for funding under this new fund.
The Federal Government would like to see something like a proposal for a 800MW coal fired power station developed in the Galilee basin to provide a ready market and add impetus to the development of one of the proposed coal mines.
Detractors of the fund have labelled it a "Dirty Energy Finance Corporation".
“I’d be very surprised if we did not have, coming forward as a potential project under the Northern Australia fund, a power station,” Mr Abbott said.
“If there were to be a major new power station in North Queensland, if there were to be a more effective distribution network in North Queensland, that would be obviously a very important economic breakthrough, because power is one of the basic costs of doing business and basic costs of life. It’s very significant.” said Abbott in an exclusive interview with the Townsville Bulletin.
Of course this works in with Tony Abbott's 'Coal for Prosperity' which ignores the enormous health and climate costs of continued coal mine production.
