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- The Federal Government has revealed a $10.6 billion boost to infrastructure projects around Australia to help drive the country’s ongoing COVID-19 recovery
- The funding will be outlined in Tuesday’s Federal Budget but is expected to bring about just over 20,000 jobs across Australia
- Deputy Prime Minister and Minister for Infrastructure Michael McCormack said the funding is designed to support jobs growth as Australia recovers from COVID-19 economic woes
- South Australia will receive the biggest portion of the funding, with $3.2 billion to be committed to infrastructure projects
- New South Wales will receive just shy of $3 billion, Victoria will get around $2.6 billion, and the remainder will be split between Queensland, Tasmania, the Northern Territory and the Australian Capital Territory
- The full 2021-2022 financial year Federal Budget is slated to be unveiled at 7:30 pm AEST on Tuesday, May 11
The Federal Government has revealed a $10.6 billion boost to infrastructure projects around Australia to help drive the country’s ongoing COVID-19 recovery.
While the funding will be properly outlined in Tuesday’s Federal Budget, the Department of Infrastructure announced over the weekend its plans to support major road, rail and freight projects for the next 10 years.
Deputy Prime Minister and Minister for Infrastructure Michael McCormack said the infrastructure boost is designed to support jobs growth as Australian unemployment continues to rise following last year’s COVID-induced blow to the economy.
“The Government is driving the delivery of major infrastructure projects to map the economic road back from the pandemic, building the economy and providing certainty for businesses over the long term,” Minister McCormack said.
South Australia is copping the biggest funding support package, with almost $3.2 billion to be committed to its North–South Corridor, from Darlington to Anzac Highway, its Truro Bypass, its August Highway and more.
Prime Minister Scott Morrison said projects will support over 5000 direct and indirect jobs across South Australia
“Our record funding commitment is creating jobs, boosting business investment, while securing Australia’s COVID recovery,” the Prime Minister said.
New South Wales is next in line for the funding, with just shy of $3 billion to be committed to major projects including an upgrade of the Great Eastern Highway.
In New South Wales, the funding boost will support over 6500 new jobs, according to the Prime Minister.
Victoria will receive over $2.6 billion in support to help fund state infrastructure projects.
The bulk of this funding — $2 billion, in fact — is dedicated to a new Melbourne Intermodal Terminal, which Minister McCormack said will “transform the way the freight moves”.
“The new Intermodal Terminal in Melbourne will create around 1350 jobs during peak construction and a further 550 jobs during peak operation — that’s delivery in action,” he said.
“This Budget commits funding for various projects under key Roads of Strategic Importance initiatives on the Ballarat to Ouyen, Echuca to Robinvale, Green Triangle, Melbourne to Mildura, Stawell to South Australian border and Toowoomba to Seymour corridors,” he added.
The remainder of the $10.6 billion funding boost is split between Queensland, Tasmania, the Northern Territory and the Australian Capital Territory.
Altogether, the major funding package is expected to support just under 20,000 jobs across the country.
The full 2021-2022 financial year Federal Budget is slated to be unveiled at 7:30 pm AEST on Tuesday, May 11.
