FOR PRESS : 66049 P. M. No. 34/ 1966
NEW COMMONWEALTH LOAN FOR BRIGALOW SCHEME
Statement by the Prime Minister, Mr. Harold Holt
It will be recalled that at talks in Canberra last
month, I assured the Premier of Queensland that Queensland's
request for financial assistance for the development of further
Brigalow lands in the Fitzroy River Basin of Central Queensland
would be brought promptly to the Cabinet for its consideration.
This Cabinet consideration has now taken place, and I have
been very pleased to write to the Premier conveying the
Commonwealth Government's approval of his request. The terms
of my letter are as follows
" Dear Mr. Nicklin,
Since our discussion in Canberra on 4th March
my Government has considered your request for financial
assistance, in the form of a loan for the development
of further Bri galow lands in the Pitzroy River Basin of
Central Queensland.
The area that you now propose be developed
consists of some 6 million acres in the Mackenzie-Isaac
River Basin north of your State's Central Railway Line,
and is separate from and additional to the areas
currently being developed south of the railway. As you
know, the Commonwealth undertook in 1962 to rovide
assistance of up to 614 500,000 to finance he cost of
the current Brigalow Scheme, although you have advised
me that, on the latest estimates it is expected that the
final cost will be some 63,000,00 less than this.
You also advised me that the estimated cost of
the proposed new Brigalow development is $ 11,500,000,
towards which the amount not now expected to be required
for the current scheme could be applied. You asked
whether the Commonwealth would be prepared to provide
assistance by way of a loan to finance the project.
In considering the proposal, my Government had
before it your reports on the progress being made with
the current Brigalow Scheme and was impressed with the
success which as attended this development, despite some
difficulties caused by drought. It was also aware, of
course, that the area you now propose for development
has been the sub ject of an investigation by the Bureau
of Agicultural Economics, which reported very favourably
on its economic potential.
I am pleased to inform you that the Government
has agreed to your request for financial assistance in
the form of an interest-bearing loan of up to Wii, 560, O00 2
E, 2
" to finance this new project. This amount, of course,
includes the amount that the Commonwealth will not now be
required to provide for the current Brigalow development,
which you have estimated at $, 000,000.
It will be necessary to enter into an areement
covering various matters of detail concerning the
financial assist. nce proposed, and if you are agreeable,
I propose that Commonwealth and State officers should confer
on this in the near future.
With your areement, I propose to release the terms
of this letter to the Press. Yours sincerely,
HAROLD HOLT."
CANBERRA April, 1966.