$1 billion infrastructure boost for NSW
The Australian Government is delivering on $1 billion of election commitments for vital infrastructure projects in New South Wales in the October budget.
This includes $300 million for the Western Sydney Roads Package, which will provide $50 million for planning and preparatory works for the Castlereagh Connection, $37 million for Richmond Road planning and $75 million for planning and early works in the North West Growth Corridor.
The Government has made high speed rail a priority by introducing legislation to establish the High Speed Rail Authority.
Through this Budget, the Government is moving to make high speed rail connections between Sydney, the Central Coast and Newcastle a reality via a $500 million investment to start corridor acquisition, planning and early works.
These projects will improve suburban liveability in our cities create jobs and workers with new skills, and help build a better future in urban and in regional NSW
We are working in partnership with the NSW Government on the investments that deliver the best value for taxpayers’ dollars and the best outcomes for the people of NSW.
A BETTER WAY
The Albanese Government wants infrastructure that leaves a lasting legacy. Our first budget will honour the pledges we made to voters in urban and regional Australia while also managing the economy in an uncertain global environment.
The budget takes an important first step in ensuring the Commonwealth’s infrastructure spending is responsible, affordable and sustainable.
It also starts making up for nearly a decade of waste and missed opportunities.
The former Government made promises without ever thinking about how to deliver them, often not even talking to the state and territory government they would later rely on to partner with.
They promised car parks that could never be built, and also tripled the budget for Inland Rail and blew out the timetable.
They sidelined, ignored and then stacked the Infrastructure Australia Board with political appointments.
And for years they pretended money was in the budget for zombie projects such as the East-West link in Melbourne and the Perth Freight Link.
We are putting sense back into infrastructure planning and delivery.
We are once again making Infrastructure Australia the premier body to advise Australian governments on our significant infrastructure gaps and opportunities.
And we are cleaning up the Coalition’s mess in the Inland Rail project, and bringing transparency and accountability back into this critical macroeconomic portfolio.
INFRASTRUCTURE IN AN UNCERTAIN GLOBAL ECONOMIC CLIMATE
Infrastructure is an important driver of economic growth, productivity and skills in the regions and cities, but the Government was left with an unsustainable pipeline of projects designed purely to look good on paper but never be built.
Our first budget takes an important step to make our infrastructure pipeline more sustainable and to ensure we don’t further strain a sector already facing labour constraints, inflationary pressures and cost increases due to supply chain challenges.
The decisions we have made will ensure the sector is in a strong position to help buffer any global headwinds, and create a sustainable pathway for building the skills needed into the future.
They will also contribute to repairing the budget after the Coalition left Australia with a trillion dollars of debt.
Infrastructure is critical to building the nation we all want. Opportunity and connection come from good infrastructure. Making good decisions now is critical to making sure no one is held back and no one is left behind.
Comments attributed to Prime Minister of Australia Anthony Albanese:
“Sound and planned infrastructure investment creates jobs, builds opportunity and unlocks economic growth and productivity for our cities and our regions.
“It’s about making journeys quicker, but also making sure Australians can get home to their families safely.
“Through our first Budget, my team is getting on with the job of delivering projects in consultation with Infrastructure Australia and all levels of Government to make a real difference to the lives of Australians.”
Comments attributable to Infrastructure, Transport, Regional Development and Local Government Minister Catherine King:
“Recent months have been a sobering reminder of the need to deliver infrastructure planning and investment that take flood and other extreme weather events into account, making our commitment to the Castlereagh Connection particularly vital.
“The NSW Government’s projections show the population of the Central Coast and the Hunter Valley growing by some 200,000 by 2040, making better transport connections a necessity.
“Our Government has a vision of a brighter future for our regions, with fast rail connections offering people more choice of where to live and work.”