Budget 2020 | Infrastructure
Infrastructure projects featured heavily in Budget 2020, with each state benefiting from investment in initiatives that are 'shovel-ready'.
Transport projects across Australia are set to receive more than $7 billion in investments over 10 years, aimed at creating more than 40,000 jobs whilst under construction, including:
- $7.5 billion for transport infrastructure around the country
- An investment of $2 billion for new projects under the National Water Infrastructure Development Fund
- Funding for "shovel-ready projects" including $2 billion for road safety initiatives and $1 billion for the Local Roads and Community Infrastructure Program
- Additional $4.5 billion investment in NBN Co
The Government will provide $2 billion over ten years from 2020-21 for the development and delivery of a 10-year rolling program of priority water infrastructure investments, including grant funding for the planning and construction of water infrastructure in partnership with the states and territories.
$7.5bn transport infrastructure injection
Announced ahead of the Federal Budget, transport infrastructure spending is a big winner with each State and Territory sharing in an additional $7.5 billion to fast track investment in projects. Working in consultation with the State and Territories, the projects have been identified as "ready to go" or "shovel ready."
Australian Capital Territory
$155 million investment in transport infrastructure. Key investments include:
- $88 million for the Molonglo River Bridge
- $50 million for a South West Corridor upgrade package.
New South Wales
$2.7 billion investment in transport infrastructure. Key investments include:
- $560 million for the Singleton Bypass on the New England Highway
- $360 million for the Newcastle Inner City Bypass between Rankin Park and Jesmond
- $120 million for the Prospect Highway Upgrade
- An additional $491 million for the Coffs Harbour Bypass taking the total contribution to $1.5 billion.
And, for those that catch the train each day to work, there are upgrades planned for commuter carparks along the North Shore to St Marys (T1), and the T8 East Hills Line at Campbelltown, Revesby and Riverwood.
$190 million investment in transport infrastructure. Key investments include:
- $120 million for upgrades to the Carpentaria Highway
- $23 million to upgrade the Stuart Highway at Coolalinga (part of the $47 million National Network Highway Upgrades across the Territory)
$1.3 billion investment in transport infrastructure. Key investments include:
- $750 million for Stage 1 of the Coomera Connector (Coomera to Nerang)
- $112 million for the Centenary Bridge Upgrade in Brisbane
- $76 million for Stage 2 of the Riverway Drive Upgrade between Allambie Lane and Dunlop Street in Townsville
- $42 million for the Mt Lindesay Highway Upgrade between Johanna Street and South Street in Jimboomba.
$625 million investment in transport infrastructure. Key investments include:
- $200 million for the Hahndorf Township Improvements and Access Upgrade
- $136 million for Stage 2 of the Main South Road Duplication between Aldinga and Sellicks Beach
- $100 million for the Strzelecki Track Upgrade.
$360 million investment in transport infrastructure. Key investments include:
- $150 million for the Midway Point Causeway (including McGees Bridge) and Sorell Causeway as part of the Hobart to Sorell Roads of Strategic Importance corridor
- $65 million to upgrade the Tasman Bridge
$1.1 billion investment in transport infrastructure. Key investments include:
- $320 million for the Shepparton Rail Line Upgrade
- $208 million for Stage 2 of the Warrnambool Rail Line Upgrade
- $292 million for the Barwon Heads Road Upgrade
- $85 million to upgrade Hall Road in Cranbourne
- Work on Stages 2 and 3 of the South Geelong to Waurn Ponds Rail Upgrade will be accelerated with $605 million brought forward into the forward estimates.
$1.1 billion investment in transport and infrastructure. Key investments include:
- $88 million for the Reid Highway Interchange with West Swan Road
- $70 million for the Roe Highway Widening and Abernethy Road Upgrade
- $16 million to undertake sealing of priority sections of the Goldfields Highway between Wiluna and Meekatharra
- $16 million to undertake upgrades on the Broome-Cape Leveque Road and associated community access roads.
Road and safety upgrades
The Government will provide $2 billion over two years from 2020-21 to deliver small scale road safety projects to provide short term economic stimulus. Road safety projects such as road widening, centre lines and barriers will be identified and delivered by jurisdictions in three six-month tranches to improve safety on Australian roads while stimulating local economies.
$150m for indigenous home ownership program
$150 million will be provided over 3 years from 2020-21 to Indigenous Business Australia for new housing construction loans in regional Australia through its Indigenous Home Ownership Program.
This article is provided for information purposes only and correct at the time of publication. It should not be used in place of advice from your accountant. Please contact us on 02 9957 4033 to discuss your specific circumstances.