The Best Takeaways Of The Federal Budget For The Infrastructure Industry

There is a Government effort to build infrastructure in our nation to make it richer and more powerful. This budget boosts regional economies and delivers on the government’s 10-year investment pipeline for infrastructure. 

Across Australia, infrastructure spending commitments have increased by $10 billion, reaching $120 billion over the next 10 years for road, rail, and community infrastructure. Additionally, the government is investing heavily in regional industries and local infrastructure to help regional Australians find jobs and pursue their dreams.

The Australian Capital Territory will receive $51 million for priority road projects, bringing the government’s total commitment to infrastructure in the territory to over $1.3 billion since 2013. 

Similarly, New South Wales will receive $3.3 billion to fund priority road and rail projects in the state, where about one-third of the budget will be allocated for Sydney to Newcastle – Tuggerah to Wyong Faster Rail Upgrade.

The state government will provide $3.4 billion for priority road and rail projects in Victoria. In total, $35.5 billion has been committed to transport infrastructure in Victoria since 2013.

For Queensland, the 2022-23 Budget includes 1.6 billion for the Brisbane to Sunshine Coast – Beerwah – Maroochydore rail extension; 1.1 billion for the Brisbane to Gold Coast – Kuraby – Beenleigh Faster Rail Upgrade; and $190 million for the Mount Isa to Rockhampton Corridor Upgrade.

Additionally, the 2022-23 Budget includes additional funding for existing projects, such as the $68.5 million the Australian government has provided for the Cooktown to Weipa Corridor Upgrade, bringing the total amount of the financing for the corridor to $258.5 million; and $114.4 million for the Tennant Creek to Townsville Corridor Upgrade.

Likewise, the Northern Territory will be budgeted with 132 million for Central Australian Tourism Roads, $55 million for the Tiger Brennan Drive/Berrimah Road Intersection Upgrade; and $50 million for Alice Springs to Halls Creek Corridor Upgrade.

Approximately $1.75 billion will be invested in priority road and rail projects in Western Australia, bringing the total commitment to transportation infrastructure in Western Australia to $20.2 billion since 2013. Similarly, $2.8 billion will go to priority road projects in South Australia.

From 2022 to 2023, the government will commit $639.9 million to road and rail projects in Tasmania to support economic recovery and job creation, increasing its commitment to transport infrastructure in Tasmania.

A number of regional, community, and industry-based programs and projects have received new and additional funding from the Federal Government. Continuing the Commonwealth’s oversight and environmental management at Commonwealth-leased airports from 2022, the government will provide $25.2 million over 2 years to ensure compliance with airport building control and environmental regulations.

A commitment of $1.5 billion over a period of 10 years from 2021 will fund priority regional infrastructure investments throughout Australia. A total of 67.7 million dollars will be provided by the government as a community development grants programme over the next three years, starting in 2022

Additionally, the government will provide $501.7 million over a three-year period from 2022 to extend the Local Roads and Community Infrastructure Program to assist local councils in maintaining social infrastructure, improving road safety, and improving local roadways.