BUSINESS Hunter has welcomed what it calls a federal budget that positions energy transition as a key driver of growth and an intense source of pressure for the region.
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Spokesperson for the peak business organisation Sheena Martin said the budget both stimulated opportunity in the new energy economy and protected vulnerable businesses and communities from surging energy costs.
"We welcome confirmation of the Net Zero Authority, Small Business Energy Incentive and Energy Price Relief Plan, and news tonight of a $2 billion Hydrogen Headstart program to scale up production of renewable hydrogen is of keen interest here in the Hunter," she said.
"The Albanese government's vision to make Australia a 'renewable energy superpower' is very much in line with the Hunter's efforts to diversify and transition to new energy economies. We are ideally placed to support the nation in this ambition.
"As a region leading the charge in hydrogen in Australia, we look forward to exploring the opportunities in the Hydrogen Headstart program in more detail. Connected to this, we welcome the reaffirmed support for the Port of Newcastle's hydrogen-focused Clean Energy Precinct, which aims to accelerate both domestic and global decarbonisation efforts."
Ms Martin said the task of energy diversification was enormous and collaboration across all levels of government, business, industry, investment, and the community was key to increasing the pace.
"As a nation we recently marked the closure of Liddell, and as these traditional assets are retired renewables must arrive to take their place. Currently this isn't happening quickly enough," she said.
"A national authority will play a role in coordinating and accelerating transition in key energy production regions like ours and we look forward to hearing more as it gears up in the coming months."
Ms Martin said key roads projects including the M1 to Raymond Terrace, Mandalong Road, Muswellbrook Bypass, Singleton Bypass, were absent from the budget documents.
"We had hoped to see these crucial roads projects reaffirmed tonight, but we remain optimistic, per Minister King's recent advice that they would be quarantined from the national infrastructure review," she said.
Business Hunter also welcomed $13.5 million in funding for a new high speed rail authority - as well as the commitment of $100 million over four years to expand the number of maintenance bays for the F-35A Joint Strike Fighters at Williamtown.
The organisation also welcomed a broad range of measures it says will help ease the cost of doing business amid a turbulent economic environment, including a new $20,000 instant asset write-off for small businesses, 300,000 new fee--free TAFE places, and a focus on rent relief.
"As always, the devil will be in the detail, and we look forward to unpacking the budget documents in greater detail in the coming days and weeks," Ms Martin said.
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