Does the Minister expect councils total co-investment into Regional Infrastructure Fund projects will reduce once a proposed rates cap is implemented; if not, why not?

Answer

The Regional Infrastructure Fund (RIF) is a Budget 2024 initiative appropriated until June 2027 and is approaching full allocation. Terms of co-investment funding for current approved RIF projects have already been established. Details of the Government's proposed new legislation to limit local government rates increases are currently being finalised, with the full regulatory model expected to be in place by 1 July 2029.