"Those who ignore the interests of the bush will pay a political price," Boswell said

"There is an important lesson to be learned from last night and that is to never, ever ignore rural Australia. Their voice will be heard in our parliaments."

Independent senator Nick Xenophon and Family First senator Steve Fielding voted against the move.

Minchin labelled the change a "Mickey Mouse" vote.

National Party leader Barnaby Joyce told ABC News Radio the move destroyed taxpayer trust established during the sale of Telstra from which the fund was created. "I am disappointed that the telecommunications fund that we bargained for was removed; it was there to protect regional telecommunications," Joyce said