Federal Budget infrastructure boost to help build Australia's economic recovery
The national economy will be boosted by a ten-year infrastructure pipeline, with new funding for major projects to be announced in Tuesday’s Federal Budget.
Key projects to be funded include:
- $2 billion of initial investment for a new Melbourne Intermodal Terminal;
- $2.03 billion for Great Western Highway Upgrade – Katoomba to Lithgow – Construction of East and West Sections in New South Wales;
- $400 million for Inland Freight Route (Mungindi to Charters Towers) Upgrades in Queensland;
- $161.6 million for the Truro Bypass in South Australia;
- $160 million for Agricultural Supply Chain Improvements – Package 1 in Western Australia;
- $150 million for National Network Highway Upgrades (Phase 2) in the Northern Territory;
- $80 million for Bass Highway Safety and Freight Efficiency Upgrades in Tasmania; and
- $26.5 million for William Hovell Drive Duplication in the Australian Capital Territory.
Deputy Prime Minister and Minister for Infrastructure, Transport and Regional Development Michael McCormack said the substantial new funding delivered in this year’s Budget was a key plank of the Government’s plan to help Australia bounce back stronger than ever from the COVID-19 pandemic.
“In this Budget, the Federal Government will continue our strong record of infrastructure delivery as we lay the economic foundations for recovery from the pandemic,” the Deputy Prime Minister said.
“More money for infrastructure means more jobs, more local procurement and a better future for businesses across the country and that’s why this investment is the centerpiece of our National Economic Recovery Plan.”
Treasurer Josh Frydenberg said the new investment adds to the Government’s continued commitment to projects that will define the success of local communities for years to come, including the Western Sydney International (Nancy-Bird Walton) Airport, Sydney Metro - Western Sydney Airport, due to open in 2026, the Melbourne to Brisbane Inland Rail, and the much-needed Melbourne Airport Rail Link.
“Our record infrastructure investment not only creates jobs now, it also sets Australia up for the future,” the Treasurer said.
“A new intermodal terminal in Melbourne will help to boost the productivity of the nation by helping businesses get their products to domestic and international markets faster following the completion of inland rail.”
Minister for Communications, Urban Infrastructure, Cities and the Arts Paul Fletcher said the Budget’s infrastructure investment will secure Australia’s world-leading economic recovery.
“This Government is committed to delivering nation-building infrastructure projects, busting urban congestion, meeting our national freight challenge and getting Australians home sooner and safer,” Minister Fletcher said.
“As we move to the next phase of Australia’s post COVID-19 economic recovery, we are focusing on new investments in major infrastructure projects right across the country.”
The Australian Government looks forward to working constructively with our partners in all State and Territory Governments to deliver this infrastructure, supporting jobs and businesses right across the country.
For more information on Australian Government infrastructure investments, visit the Infrastructure Investment Program website.