Bill introduced to fund infrastructure projects


A Bill to establish multi-billion dollar infrastructure fund to bankroll key transport projects has been introduced into federal Parliament

A Bill to establish multi-billion dollar infrastructure fund to bankroll key transport projects has been introduced into federal Parliament.

Minister for Finance and Deregulation Lindsay Tanner yesterday urged bipartisan support for the Nation-Building Funds Bill when introducing it, saying it is vital to meet Australia’s immediate and future challenges.

If passed, the Bill will establish the $12.6 billion Building Australia Fund which will be spent on road, rail and port projects, communications, energy and water and infrastructure.

The Government plans on investing $20 billion in the fund, and Tanner says more contributions will be made based on future budget circumstances.

An Education Investment Fund and a Health and Hospitals Fund will also be established if the Senate passes the Bill.

"This marks the beginning, the next step, in implementing the nation’s nation-building agenda," Minister for Infrastructure and Transport Anthony Albanese says.

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