$9.6 billion infrastructure boost for Australia
In the 2022-23 Federal Budget, the Australian Government is delivering on $9.6 billion of election commitments for vital infrastructure projects across Australia.
Our commitments funded in in the Budget include:
- $300 million for Western Sydney Roads Package and $500 million for the High Speed Rail Authority
- $2.2 billion for the Suburban Rail Link in Victoria
- $586.4 million of additional funding for a major upgrade of the Bruce Highway to widen a 13-kilometre stretch through Brisbane's outer northern suburbs
- $1.5 billion for upgrading important freight highways, sealing the Tanami, and upgrading Central Arnhem Road, as well as the Dukes, Stuart and Augusta highways in SA
- $540 million to upgrade Tasmania’s important road corridors, including the Bass Highway, the Tasman Highway and the East and West Tamar Highways.
- $125 million funding to help build an electric bus network for Perth
We are working in partnership with the State and Territory Governments on the investments that deliver the best value for taxpayers’ dollars and the best outcomes for the people of Australia.
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 attributable to Prime Minister of Australia Anthony Albanese:
“Sound and planned infrastructure investment in Australia 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 people 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:
“Investing in national significant highways and roads will help the economy while putting much needed money into regional and urban roads will help make life easier and safer for everyone.
Good infrastructure helps strengthen the economy and build connections between communities.
The Albanese Labor Government is investing across the nation to leave lasting value.”