The Western Australian Government has approved the 670 million Royalties for Regions program, formally giving effect to the Royalties for Regions policy.
Under the policy regions will receive 25% of mining royalties for infrastructure and services.
The Royalties for Regions Fund will be administered by Regional Development Minister Brendon Grylls through a number of funds, including, but not limited to, the Regional Infrastructure and Headworks Fund, the Country Local Government Fund and the Regional Community Services Fund.
Grylls said that legislation would be required to ensure the ongoing support and implementation of Royalties for Regions.
“We want to see Royalties for Regions set up so that it has longevity beyond this Government,” he said.
The Minister said Cabinet also raised the challenge of the approvals process.
“If Royalties for Regions is going to be delivered, it will need a fast-tracked approvals process for all of the different projects across all of the different departments,” he said.
The three funds will be set up administratively before legislation is introduced in the first session of Parliament.