The 2022-23 Federal Budget has been announced and the Australian Government is committing $17.9 billion towards new and existing infrastructure projects across the country.
This significant funding increases the Government’s rolling 10-year infrastructure investment pipeline from $110 billion to a record $120 billion.
The Australian Government will continue to invest in projects that will not only create jobs but will also keep freight and commuters “safe and moving” as well as aid in the nation’s economic growth.
“A strong economy means a stronger future.
“Continuing to provide record future funding for road and rail projects is a key part of our economic plan for long term to keep our economy strong.
“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,” Prime Minister Scott Morrison said.
The 2022-23 Budget will fund new key projects, including:
The recently announced Federal Budget will also include additional funding for existing projects as well as Roads of Strategic Importance corridors, including:
“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.
“Getting more commodities to ports and sending them overseas will generate more export income, making our nation wealthier and stronger. Better roads and infrastructure will enable that,” Deputy Prime Minister and Minister for Infrastructure, Transport and Regional Development Barnaby Joyce said.
Treasurer Josh Frydenberg said that infrastructure is a “key pillar” in the nation’s economic growth that will also deliver more jobs for Australians.
“With the unemployment rate already at an equal 48 year low, the measures in this Budget will create an additional 40,000 jobs across Australia, building on our world leading economic recovery.
“By enhancing transport connectivity, we’re strengthening our supply chains against challenges such as COVID-related disruptions and the impact of natural disasters. This gives businesses and consumers the confidence and certainty they need in uncertain times,” Mr Frydenberg said.
In addition to delivering vital infrastructure, the significant investment will also support sustainable growth across Australia.
“Our Government has a strong track record in delivering infrastructure that improves connections, reduces congestion and helps keep Australians moving, particularly across our fast growing urban centres.
“What this means for commuters is less time spent in traffic and more time with loved ones, and the ability to move around more easily for work, which has a positive economic and productivity impact while helping secure long-term prosperity and liveability,” Minister for Communications, Urban Infrastructure, Cities and the Arts Paul Fletcher said.
The second phase of Western Australia’s $175 million Albany Ring Road – between Lancaster Road and Princess Royal Drive – marks a new milestone with the release of designs following an extensive community feedback process.
The Australian Government continues to commit to delivering road and rail infrastructure projects in every state and territory with $361 million invested – through the 2022-23 Federal Budget – towards the Northern Territory infrastructure pipeline.
Through the 2022-23 Federal Budget, the Australian Government is investing in new and existing infrastructure projects in every state and territory, with the Australian Capital Territory receiving $51 million.
Formerly known as the PlantMiner blog, Felix Project News is Australia's top 10 Construction blog.
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