Infrastructure bonanza in Australia
The Federal Budget 2019 has just been announced and, as predicted, infrastructure has become a true political battlefield and a clear winner of the Government’s funding.
An unprecedented $100 billion will be spent on infrastructure
The 10-year infrastructure package has been increased from $75 billion to $100 billion. The additional money will go to the following projects:
New projects of $4 billion, including:
• Bruce Highway $425 million
• Gateway Motorway (Bracken Ridge to Pine River) $800 million
• Warrego Highway $320 million
• Urban Congestion Fund $379 million
• Roads of Strategic Importance (North) $824 million
• Roads of Strategic Importance (South) $186 million
New South Wales
New projects of $7.3 billion, including:
• M1 Pacific Motorway Extension to Raymond Terrace
• Western Sydney Rail $3.5 billion
• Princes Highway $500 million
• Urban Congestion Fund $254 million
• Roads of Strategic Importance
New projects of $6.2 billion, including:
• Suburban Roads Upgrades (South Eastern and Northern
Roads) $1.1 billion
• South Geelong to Waurn Ponds Rail $700 million
• Western Highway (Final Stage of Duplication from Ararat to
Stawell) $360 million
• Urban Congestion Fund $396 million
• Roads of Strategic Importance $490 million
New projects of $2.6 billion, including:
• North-South Corridor $1.5 billion
• SA Regional Roads Package $260 million
• Urban Congestion Fund $341 million
• Roads of Strategic Importance $220 million
New projects of $1.6 billion, including:
• Tonkin Highway $349 million
• Fremantle Traffic Bridge $115 million
• Albany Ring Road $140 million
• Urban Congestion Fund $122 million
• Roads of Strategic Importance (North) $393 million
• Roads of Strategic Importance (South) $142 million
New projects of $313 million, including:
• Tasmanian Freight Rail Revitalisation Program $68 million
• Urban Congestion Fund $35 million
• Roads of Strategic Importance $210 million
New projects of $622 million, including:
• Roads of Strategic Importance $492 million
Australian Capital Territory
New projects of $50 million
- Major Project Business Case Fund $250 million
- Roads of Strategic Importance funding increase from $3.5 billion to $4.5 billion
- A new Road Safety Package $2.2 billion
- Urban Congestion Fund increased from $1 billion to $4 billion including a new Commuter Car Park Fund $500 million
Fast Rail Plan
- $2 billion to help deliver fast rail from Geelong to Melbourne
- Establishing the National Faster Rail Agency
- Fast rail business cases for Sydney to Newcastle, Sydney to Wollongong, Sydney to Parkes (via Bathurst and Orange), Melbourne to Greater Shepparton, Melbourne to Albury Wodonga, Melbourne to Traralgon, Brisbane to the regions of Moreton Bay and the Sunshine Coast, and Brisbane to the Gold Coast
Video Credit: Wall Street Journal via YouTube
Josh Frydenberg, the treasurer said: “Cranes, hard hats and heavy machinery will be seen across the country as we build Australia for current and future generations.”
“We will deliver new infrastructure projects to ease congestion in our cities. To unlock the potential of our regions. To better manage population growth. To improve safety on our roads. We know you want to be there for the school drop-off, to help kids with their homework and spend more time together at the dinner table.
“A strong economy needs ongoing investment in roads, rails, bridges, dams and ports.”
Why is the Government spending so much money on infrastructure?
Overseas migration plays a significant role in population growth in Australia.
Australia’s population is expected to reach 30 million by 2029 and there is no doubt that this growth will put pressure on infrastructure, housing, transport, service delivery, and the environment.
The Government is introducing changes to the migration program by lowering the permanent migration ceiling and introducing two new regional provisional visas to encourage migrants to settle in regional areas instead of big cities. These visas give a pathway to residency after three years.
ConsultANZ Recruitment specializes in the civil engineering, construction, surveying and infrastructure sectors.
Source: © Commonwealth of Australia 2019 under a Creative Commons BY Attribution 3.0 Australia Licence
Based on the Commonwealth of Australia data
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