THE DLP CALLS FOR THE ESTABLISHMENT OF A FEDERAL DEVELOPMENT BANK
A Development Bank will provide numerous benefits for Australia. Not only would it provide safe investment, but it would build ongoing revenue for future infrastructure projects. The bank would also:
Reduce Foreign Debt and Interest Payments
Relieve Budgetary Restraints
Fund Long Term Projects
Strategically buy into Selected Industries to protect the nation’s economic sovereignty
Remove the quick fix (and detrimental long term) habit of the sell-off of our state assets by government
The DLP feels that there is a need to establish a Federal Development Bank.
Its primary role would be to provide a source of funding for infrastructure spending by federal and state governments, removing the need for seeking funding in foreign markets.
This would expand later to funding the development of new industries in our regional centres.
The Development Bank would be Australian owned and operated, separate to the Reserve Bank of Australia and external to the Treasury and ongoing budget requirements. Legislation would be put in place so that the Development Bank cannot be privatized, nor used for purposes other than those for which it was founded.
REDUCE FOREIGN DEBT
Too often States do not have the funds to carry out long-term projects and are forced to borrow money from Foreign Markets. A Development Bank would reduce the dependency of this in the future.
REDUCE FOREIGN INTEREST
Interest would be kept in Australia, allowing for the funding of more projects.
FUND LONG TERM PROJECTS
State Governments could invest in the future, instead of in only short-term projects
BUY STRATEGIC INDUSTRIES
Instead of selling off our National Assets the Development Bank could buy into strategic businesses such as electricity and farms.
STOP SELL OFF OF ASSETS
The Development Bank would be given the right of first refusal for any business being sold to overseas interests.
PROVIDE SAFE INVESTMENT
Australians will have the opportunity to invest in a bank which is established for the sole purpose of benefiting Australians.