Good morning and thank you for the opportunity to be with you today.

I begin by acknowledging the Traditional Custodians of the land on which we meet today, the Gadigal people of the Eora Nation, and pay my respects to Elders past and present.

The Commonwealth’s infrastructure pipeline, combined with investments from states, territories and local government, is of incredible significance to our economy. It shapes the capacity of the construction market, supports jobs and supply chains, and delivers a long-run boost to productivity in terms of how people and freight move efficiently around Australia.

With this scale of investment overall, what the Commonwealth funds, when it is funded, and a project’s readiness for delivery does has consequences for our economy.

That is why the way these investment decisions is important.

In our first term, we undertook significant reform to the Commonwealth infrastructure ecosystem so that our government could make better-informed investment decisions.

Together, the reforms to Infrastructure Australia, the reset of the Infrastructure Investment Program, the Infrastructure Policy Statement and the new funding arrangements agreed with states and territories have created a more strategic and disciplined approach to our infrastructure investment.

Infrastructure Australia’s refreshed Infrastructure Priority List is another important part of these reforms, it is our opportunity to have a more targeted set of investment ready proposals. It gives Government a clear view of which proposals are ready for investment, and which need further planning.

It is more targeted and gives government a clearer view of which proposals are ready for investment and which require further planning.

The list does not determine what government funds. But it does provide me with a source of independent advice that helps to identify gaps, prioritise investment and make better decisions about the pipeline as a whole.

It also looks beyond the next Budget for the next cycle of elections. By distinguishing between proposals ready for near-term consideration and those requiring more planning, it helps governments keep future options alive without putting projects into delivery before they are ready. That is important for maintaining a credible pipeline and giving industry a clearer view of what may come next.

As in our first term our second term is also focused on delivery.

Through the new five-year Federation Funding Agreement on Land Transport Infrastructure, we are working with states and territories to deliver infrastructure projects underpinned by clear responsibilities, stronger accountability and greater transparency.

Annual infrastructure plans now give the Commonwealth a ten-year view of each jurisdiction’s priorities. That allows us to identify proposals earlier, test whether they are properly planned and costed, and sequence investment against available funding and market capacity.

More consistent reporting on outcomes, risks and delivery also allows problems to be identified earlier, supports better-informed government decisions and gives industry greater confidence that the pipeline is credible and deliverable.

Notwithstanding these important changes, delivery is not always straightforward as you know.

Our best plans and forecasts come up against workforce constraints, productivity challenges, pressure on materials and supply chains, and the continued need to maintain integrity across the construction sector.

Australia is coming off a historic peak of major infrastructure investment, and jurisdictions are responding to this next phase of the national pipeline in different ways. These differences matter because workers, contractors, equipment and materials are often moving across borders.

New South Wales is moving towards a more measured pipeline, focused on predictable and sustained investment while managing the state’s broader priorities.

At the same time, some of Australia’s most significant projects are being delivered here.

Western Sydney International Airport is Australia’s first greenfield airport in 50 years. It has been delivered on time and within budget because decades of planning were followed by disciplined execution.

Major works packages allowed bulk earthworks, terminal construction and airside works to progress in a structured way, while maintaining oversight of a complex, multi-billion-dollar build.

The economic benefits are already being felt. More than $500 million has flowed to around 360 Western Sydney businesses. Cargo operations opened in July, passenger services are scheduled to begin in October, and the airport will have capacity for up to 10 million passengers a year without a curfew.

The toll-free M12 opened in March, providing the road gateway to the airport, while Sydney Metro Western Sydney Airport is being delivered to connect surrounding communities.

New South Wales also demonstrates why discipline must be matched with flexibility.

When major cracking and ground movement forced the closure of Mitchell’s Causeway and Victoria Pass, the Australian and New South Wales Governments moved quickly. We have jointly committed $200 million to rebuild and strengthen the Great Western Highway corridor, including an eastbound climbing lane, getting the works started in record time.

In High Speed Rail we are also planning for the long term in New South Wales.

This government is doing the detailed work needed to turn that ambition into an investment-ready project.

We have invested $660 million in a two-year development phase for the Newcastle-to-Sydney corridor. The High Speed Rail Authority is progressing design, planning and environmental approvals, testing benefits and confirming the finance and funding strategy.

This improves certainty on cost, timing and delivery before major construction begins. It is the work required to support an informed investment decision and give a project of this scale the best possible chance of success.

In Queensland they are seizing the opportunity of the 2032 Olympic and Paralympic Games by accelerating their infrastructure investment.

That ambition is being balanced against market capacity, including the availability of workers, materials and delivery partners. Careful sequencing is needed so the Games pipeline can be delivered alongside housing, energy and other essential infrastructure.

The Commonwealth is working with Queensland on nationally significant road and rail investments, including the Bruce Highway, M1 Pacific Motorway, Direct Sunshine Coast Rail, Logan and Gold Coast Faster Rail, Brisbane Metro and the completed Gold Coast Light Rail Stage 3.

These are all legacy projects. Once the Games are over, they will continue to support daily travel, connect growing communities to jobs and services, and leave a stronger transport network.

Victoria continues to manage a substantial program already in delivery while considering the infrastructure needed for the growth of Melbourne and regional centres.

With the Metro and West Gate Tunnels complete, the Commonwealth is partnering with Victoria on the next generation of investment. This includes Melbourne Airport Rail’s Sunshine Superhub, Suburban Rail Loop East, and planning and preconstruction work on the Melton Line and Western Freeway alongside a plethora of other small projects within the state.

The challenge is to sequence existing commitments and emerging priorities in a way that remains both deliverable and affordable.

In South Australia the largest road project we are investing in is the Torrens to Darlington. That has, already, three tunnel boring machines undertaking significant work and that will be a huge contribution to the South Australian network.

The High Productivity Vehicle Network is still under discussion with the South Australian Government.

Western Australia is also moving from one generation of investment to the next.

With METRONET’s new and extended rail lines, stations, bus interchanges and level-crossing removals now complete, attention is turning to Westport and its supporting freight connections.

Westport is not simply a new port. It requires coordinated investment in roads, freight links and landside infrastructure so it can connect effectively with the national freight network.

We are already delivering on those connections, with substantial investment in the Kwinana Freeway and Anketell Road to ensure Westport will have the connectivity it needs.

There is a huge investment happening in the Defence space, with Henderson emerging as a major new centre of investment.

Backed by an initial $12 billion Commonwealth commitment, the new Henderson Defence Precinct will support continuous naval shipbuilding and sustainment, including Australia’s future nuclear-powered submarine capability.

Together, Henderson and Westport are transforming the Western Trade Coast, making the coordinated planning of transport links, utilities, workforce and industry capacity essential.

In Tasmania, the Northern Territory and the ACT the same principles apply.

In Tasmania, $336 million is supporting upgrades to the East Tamar, West Tamar and Bass highways. In the Northern Territory, the $332 million Strategic Roads Package is improving remote and regional roads vulnerable to flooding and corrugation.

And of course in the ACT, the light rail continues. The Sydney to Canberra rail link is also a really exciting project that Andrew, Jenny and I feel strongly about. Trying to get as much improvement as we can in that network, before one day High Speed Rail will connect Sydney and Canberra.

The national pipeline is not only made up of megaprojects. Local government manages much of the infrastructure Australians use every day and it is under pressure.

That is why we have doubled Roads to Recovery funding to $1 billion a year. Over the five years from 2024–25, $4.4 billion is available, giving councils stable and predictable funding for local roads whilst allowing them to choose projects that respond to local priorities.

We are also providing ongoing funding of $50 million a year through the Active Transport Fund for walking and cycling infrastructure.

These projects may be modest compared with an airport or motorway, but they make everyday trips safer and connect people to schools, shops, stations and town centres.

Councils understand their local networks and the practical needs of their communities. Providing predictable funding, while leaving project choices in local hands, helps get necessary work underway sooner and supports a steadier program for smaller contractors and regional suppliers.

Crossing state borders sits a common national challenge: making better use of the infrastructure we already have and building greater resilience into the network.

This year, conflict in the Middle East disrupted global fuel markets and placed pressure on transport supply chains. Government responded by working with industry and the jurisdictions to implement practical responses to preserve fuel supplies and maintain our critical supply lines. Another project that is coming online in Minister Bowen’s space, is the Government’s project to increase fuel storage. The construction of that will be a significant project going ahead.

Road freight will remain essential, particularly for first and last-mile delivery. But a multi-modal approach is critical to meeting our growing freight demand.

Meeting that demand has meant some difficult choices, such as the future of Inland Rail. But those choices have allowed the Government to increase investment in the Australian Rail Track Corporation network to almost $2.8 billion.

A stronger existing network, targeted new capacity and disciplined decisions on major projects are all parts of the same task: moving freight more reliably and improving national resilience.

As of June this year, the Network Improvement Program has delivered culvert upgrades, replaced 53 kilometres of rail between Tarcoola and Kalgoorlie and 97 kilometres of rail on the broader network.

In addition, 14,600 tonnes of ballast have been replaced and nearly 200 rail defects have been removed, helping to maintain the track supporting safer, more reliable freight operations.

And the $52 million Transport Resilience and Capacity Kickstart, or TRACK, pilot to support more fuel-efficient freight movements by rail and coastal shipping, will open shortly.

A credible pipeline must also reflect the capacity of the industry being asked to deliver it.

Workforces, businesses, equipment and materials move across state borders. That is why governments need to be clear about what the market can deliver and work together to maintain a pipeline that is ambitious in scope, but credible and sustainable to deliver.

Part of this is being honest about why people leave the construction workforce or never join in the first place. Long hours, limited flexibility and poor work-life balance narrow the workforce available to us, particularly for women and people with caring responsibilities.

That is why the Government supports the Construction Industry Culture Taskforce’s Culture Standard, focused on inclusive worksites, more time for life, and better mental health and wellbeing.

Integrity is inseparable from delivery. Our Government has zero tolerance for corruption, intimidation or criminal behaviour in the construction industry. The allegations associated with the CFMEU have damaged confidence in the sector and let down the overwhelming majority of workers and businesses who do the right thing.

But misconduct of this kind does not occur in a vacuum. That is why industry, unions and government have developed and agreed a set of construction standards via the National Construction Industry Forum.

We are currently consulting on these standards. They are intended to strengthen integrity, lawful conduct, productivity, fair industrial practices, workforce development and job quality.

Our objective is clear. Commonwealth purchasing and infrastructure funding should support an industry that is productive, competitive and lawful, while workers are treated with respect and given the support and security to build lasting careers.

I am proud of the reforms our government has delivered.

But reform only matters when it produces better projects and better outcomes for the people who rely on them.

For Australians, that means safer roads, stronger freight links, more reliable transport networks and communities that are enjoyable to live in.

The reforms are in place. The pipeline is more clear. Our focus is on delivery.

That means responding when circumstances change, maintaining the networks we depend on and getting well-planned projects built.

It also means being honest about constraints, making choices when circumstances demand them and working with every level of government and the sector to keep delivery on track.

I look forward to working with you to do exactly that.

Thank you.