The Australian Government has recently announced its 2023-24 Federal Budget, highlighting a $120 billion investment on infrastructure that will build the nation through a genuine review of Australia’s infrastructure pipeline as well as new measures for its cities and suburbs.
The Infrastructure Investment Program will undergo a 90-day independent review to ensure that projects being invested in are nationally significant. This review will make sure that freight keeps moving, that Australian across the nation can get home safely, and connections between cities and regions remain strong.
The number of infrastructure projects in the pipeline increased from 150 to almost 800, and these projects were said to have been left without adequate funding, resources or genuine commitment.
“The Albanese Government is keeping the $120 billion rolling 10-year pipeline – and every dollar remains in the budget. But it would be irresponsible to move ahead, without fixing the backlog. This review will allow all levels of government time to consider the projects that are actual priorities, and assess their cost and deliverability in the current climate. The process will help to lay firm foundations to build a more sustainable, credible pipeline of investment,” The Australian Government said in a statement.
The review is going to be undertaken by Mr Reece Waldock AM, Ms Clare Gardiner-Barnes and Mr Mike Mrdak AO – all having extensive expertise in land transport infrastructure – with the support of the states and territories.
Major Projects Business Case Fund
Through the recent Budget, an additional $200 million funding is being committed to replenish the Major Projects Business Case Fund (MPBCF).
The MPBCF will help fund the development of major project business cases, enabling engagement early on the next phase of strategically significant projects.
“This commitment will help to support the Government’s refreshed approach to funding future major land transport infrastructure projects, through facilitating earlier engagement in the planning stage and ensuring the broader Commonwealth objectives are considered as projects are developed.”
National Urban Policy
The 2023-24 Budget will deliver a bold agenda for urban Australia following decades of inaction. This ensures that the Government is a trusted partner in building better cities and suburbs across the nation. A comprehensive National Urban Policy is being developed to help address urgent challenges in major cities – from equitable access to jobs, homes and services, to climate impacts and decarbonisation.
The policy reform will match with new programs such as Thriving Suburbs and Urban Precincts and Partnerships to ensure urban communities can partner with the Australian Government to deliver vital community infrastructure and precinct-level developments.
“Together, these programs will deliver best-practice investment in urban infrastructure, connecting people and communities to service and opportunities that improve liveability and inclusion.”
The Australian Government will continue listening to experts and convening the Urban Policy Forum to advise the Minister on the latest thoughts on innovation, planning, property, design and sustainability.
In addition, a new Cities and Suburbs Unit (CSU) is going to be established to deliver the works, including the State of the Cities report that provides an accurate and up-to-date picture of life in cities across Australia. The CSU will also oversee the National Cabinet urban planning matters that are going to be discussed in Planning Ministers’ Meetings.
“We want more Australians to enjoy life closer to home, help decarbonise our cities, and improve both community connections and economic productivity.”
The 2023-24 Budget also includes:
National Road Safety
The Australian Government is also allocating funds to Vision Zero, showing its commitment to zero deaths and serious injury due to road crashes by 2050. Vision Zero will ensure Australians get home safely, no matter the distance travelled. Improvements to regional and remote road safety have both been identified as priorities in the National Road Safety Strategy 2021-2030.
The recent Budget will provide:
“The Albanese Government is committed to working with governments and communities to support urban and regional Australia to be more productive, more resilient, and more liveable into the future.”
Source: Minister for Infrastructure, Transport, Regional Development and Local Government; Roads & Infrastructure Australia; Infrastructure Magazine
The proposed $2.9 billion Urannah Dam project has been declared a coordinated project by Queensland’s Coordinator-General. This means that the massive development will now undergo an impact assessment process to determine significant environmental, social, cultural as well as economic impacts the project might impose on the region.
$1.2 billion worth of vital infrastructure for the Yarrabilba and Greater Flagstone priority development areas (PDAs) in Queensland are going to be delivered as the State Government, Logan City Council and nine key developers sign off on an infrastructure agreement.
The next stage of Bruce Highway upgrades for the Sunshine Coast is set to go underway, with a $3.13 billion pipeline of works for four years highlighted in the 2019-20 State Budget.
Formerly known as the PlantMiner blog, Felix Project News is Australia's top 10 Construction blog.
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