Treasurer Joe Hockey’s big roads Budget


Huge Federal focus on road infrastructure, with co-payment to States to boost asset recycling

Treasurer Joe Hockey’s big roads Budget
In this Budget, infrastructure means roads, mostly

 

As flagged for months, road investment was the spending centrepiece of the Federal Government’s first Budget.

With cuts being felt in other sectors, Treasurer Joe Hockey pledged to deliver $40.8 billion for infrastructure between 2013-14 and 2018-19, with $4.5 billionmorebudgeted for 2019-20 onwards.

It also followed through on making cash available for the States if they come to the party through an initial $5.9 billion to an Asset Recycling Fund.

 "Payments will be made to States and Territories under the Infrastructure Growth Package," Hockey says.

"Proceeds from the sale of existing assets will be recycled into new productivity‑enhancing infrastructure, as well as expedite nationally significant projects across the country. 

"The initial contribution of $5.9 billion will be uncommitted funds from the Building Australia Fund and the Education Investment Fund. Further contributions will be made through the proceeds from privatising Medibank Private and from other asset sales. 

"This Fund will help States and Territories strengthen their balance sheets through recycling capital into a dedicated funding source to build new infrastructure.

"The Abbott Government has committed nearly $10 billion to transport infrastructure through the Infrastructure Growth Package in this Budget, bringing total infrastructure investment to more than $50 billion by 2020-21."

An additional $6.6 billionof new investment is being fast-tracked in the Budget with new financing and delivery arrangements negotiated with state and territory governments, he says.

The highlights are as follows:

Urban roads

$3 billion for Melbourne’s East West Link

$944 million for Adelaide’s North South Corridor

$611.4 million for Gateway WAbetween Perth Airport and Fremantle port.

Regional roads

$6.7 billion for the Bruce Highway in Queensland

$5.6 billion for the Pacific Highway duplication in NSW

$450 million for more four-laning of the Western and Princes Highways in Victoria

$480 million for the North West and Great Northern highways in Western Australia

$400 million for the Midland Highway in Tasmania

$90 million for the Northern Territory’s Regional Roads Productivity Package

Up to $1.3 billion towards the Toowoomba Second Range Crossing

$508 million for the Warrego Highway

$2.5 billion for Roads to Recovery, including a double payment in 2015-16

$565 million to fix dangerous roads under the Black Spots Program

$300 million for the new Bridges Renewal Program

$24.5 million for the Outback Way.

Rail

$300 million to the Inland Rail project

$50million to the Advanced Train Management System technology

$75 million for the next stage of upgrades to the Port Botany Rail Line in Sydney.

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