The new budget will provide funding for vital infrastructure projects
The Federal government is committing $17.9 billion towards new and existing infrastructure projects in the infrastructure pipeline in this week’s budget.
The government has invested in infrastructure projects in every state and territory of Australia, increasing its rolling 10-year infrastructure pipeline from $110 billion to over $120 billion.
The funding boost will aim to keep commuters and freight moving safely, provide more jobs and drive economic growth.
Key new commitments funded in the 2022-23 budget include:
- $3.1 billion to deliver the Melbourne Intermodal Terminal Package
- $1.6 billion for the Brisbane to Sunshine Coast (Beerwah-Maroochydore) rail extension
- $1.121 billion for the Brisbane to Gold Coast (Kuraby-Beenleigh) faster rail upgrade
- $1 billion for the Sydney to Newcastle faster rail upgrade
- $678 million for the NT/ WA and Queensland Outback Way
- $336 million for the Tasmanian Roads Package Stage 2
- $200 million for the Marion Road – Anzac Highway to Cross Road project
- $140 million for Regional Road safety upgrades in WA
- $132 million for Central Australian tourism roads in the NT
- $46.7 million towards the Athllon Drive duplication in the ACT
The budget will also fund existing projects in most Australian states, making for a record infrastructure investment to keep Australians moving.
“Continuing to provide future funding for road and rail projects is a key part of our economic plan for the long term to keep our economy strong,” PM Scott Morrison says.
“By investing in these projects, we are delivering the infrastructure that the Australian economy needs to grow, to get Australians home sooner and safer, and generate thousands of jobs and new opportunities for small businesses right across the country.
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“Australia’s future success relies on a strong economy. Our strong economic recovery is being driven by our record funding for major road projects right across the country.
The Federal government says it’s building the infrastructure to provide growth for both the nation and its economy.
“We are investing in projects that will drive the growth of industries that generate the wealth our nation needs to become as strong as possible as quickly as possible,” Deputy PM Barnaby Joyce says.