The EAP supports the creation of a National Development Bank. The main purpose of this bank would be to provide funding to Federal & State entities involved in infrastructure projects throughout Australia.
The National Development Bank would become the secure and guaranteed default repository for Superannuation Funds for all Australians.
Education and assistance with the consolidation of multiple funds into one unified fund for each citizen will also be provided. This is to ensure that the maximum retention of funds, and the development of sufficient financial reserves for use in retirement of each individual is achieved.
Funding towards the development of new technologies, and industry creation / development in regional areas would become a priority of a National Development Bank, and will be investigated with a view towards providing ongoing funding for environmental, medical, and technological research and development, as well as ensuring a spread of investment opportunities throughout all regions of Australia.
The provision of funding will be made available to all citizens by creating a source of accessible and affordable housing financing, intended for the purchasing of a primary residence only will also be initiated.The effective and beneficial use of Superannuation funds for primary housing acquisition will likewise be investigated and assessed.
This entity would permanently remain a public institution – one that will forever operate independently of the Reserve Bank of Australia and the Treasury Department.
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