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500 million big ones will finally be allocated to the Great Barrier Reef by the Turnbull Government to try and improve the seriously worrying conditions the GBR are in at the moment.

"The Australian Government will protect thousands of jobs, improve water quality, tackle coral-eating crown-of-thorns starfish and implement scientific reef restoration on the Great Barrier Reef", the Australian government said in a statement released on April 29. Moreover, $58 million will be committed to fight crown-of-thorns starfish, the Sydney Morning Herald newspaper reported.

The World Heritage-listed site, which attracts millions of tourists, is reeling from bouts of coral bleaching due to warming sea temperatures linked to climate change.

Climate change also affected the creatures that live in the reef system. "Climate change is the number one threat to the Great Barrier Reef and only concerted action to cut pollution will fully protect it".

"We are looking at a whole range of new initiatives, taking the best advice of the experts, working closely with the Great Barrier Reef Marine Park Authority to ensure that the reef has its best chance into the future", Federal Environment Minister Josh Frydenberg said on Sunday in Cairns.

Foreign Minister Julie Bishop said regional countries looked to Australia's example as a world leader in reef management, as the government's 2050 Plan was approved by the World Heritage Committee as being a standard for the rest of the world to follow.

According to Prime Minister Malcolm Turnbull, the money spent will go towards improving water quality, tackling predators, and expanding restoration efforts. Crown-of-thorns starfish were responsible for nearly half of this decline.

But the cash splash has been met with criticism from conservationists who have accused the government of not doing enough to address the thing that poses the biggest threat to the reef, climate change.

The administration of Prime Minister Malcolm Turnbull announced Sunday it is earmarking more than AU$500 million, or $379 million in US dollars, to protect the reef in partnership with the Great Barrier Reef Foundation.

"Today's major investment brings real solutions within our grasp".

"Millions of dollars will go into science and to better data management and to be able to test the impacts on the reef", he added. "These funds represent an unequalled opportunity to create a legacy of hope for future generations".

The reef is a critical national asset, contributing AU$6.4 billion a year to the Australian economy.