That is that this Government does not have the faintest idea of how it is going to fund the long overdue Tamworth Hospital redevelopment.

When questioned on if and when the project – originally costed at $130 million when it was pledged by then premier Morris Iemma during the 2007 election campaign – would proceed, Mr Della Bosca referred the matter to the Federal Government.

He noted, as we reported last week, that Tamworth was one of many major health projects Premier Nathan Rees had put on the table during economic stimulus package infrastructure funding talks with Kevin Rudd.

His view, as we report today, is that nothing more will be decided at State level until Mr Rudd’s people get back to Mr Rees’ people.

We are pretty confident, given the strong language Mr Rudd used in his address to the nation on Tuesday, that his people will be very sensitive to attempts by Mr Rees’ people – in this case Mr Della Bosca and co – to pull off some swift cost shifting.

As we understand it, the chances of the Federal Government underwriting a project that has already been announced by the NSW Government as part of an election campaign are Buckley’s and none.

Mr Rudd has even gone so far as to say that State Governments that wind back infrastructure spending of their own to hitch a free ride on the coat tails of the Commonwealth’s deficit-budgeted largesse will be punished – and punished severely.

Our interpretation of the PM’s remarks are that if the NSW Government does not honour its commitment to begin work on the Tamworth Hospital within the current term of the State Parliament it may stand to lose $130 million in general revenue grants.

That threat – if it is real – could actually be the best news Tamworth has received on this issue to date.

It’s only money Mr Della Bosca.... use it or lose it.