$13.9 billion infrastructure investment to unlock economic recovery

24 August 2020

The Treasurer today released details of the Palaszczuk Government’s $13.9 billion infrastructure investment for 2020-21 as part of Queensland’s plan to support jobs and accelerate the state’s economic recovery.

Treasurer and Minister for Infrastructure and Planning Cameron Dick said this year’s capital program re-affirmed Government’s infrastructure guarantee, and was expected to directly support around 44,000 jobs.

“The Capital Program 2020 Update includes $13.9 billion in infrastructure spending across the state and is aimed at keeping people in jobs, driving our recovery and securing Queensland’s longer-term prosperity,” Mr Dick said.

“Our Unite and Recover for Queensland Jobs strategy for economic recovery has a strong focus on infrastructure, because we know that infrastructure will drive our state’s recovery, future prosperity and resilience.

“Today’s capital program update reinforces our commitment to a $51.8 billion program of work over four years and gives the private sector confidence to invest in Queensland.

“In addition to creating and protecting jobs within the construction industry and supply chains, this investment will support our industries, regions and communities and be an incentive for further private investment.

“The Capital Program 2020 Update confirms our pipeline of capital projects that will support jobs for tradies, subcontractors and businesses now and into the future.

“It details investment in almost 900 initiatives across transport, energy, water, health, education and training, digital, justice and public safety, social housing, the arts, culture, sport and recreation.

“The update provides visibility of this year’s spend and the anticipated 18-month projected spend to December 2021 for each of these infrastructure classes.

“It shows we’re continuing to invest in traditional sectors by delivering economy boosting projects such as new and upgraded roads, vital high-quality health, education and social services, and also reflects our commitment to new technologies and priority sectors.

“This year, around 60 per cent of the total $13.9 billion investment will be spent outside of Greater Brisbane.

“These projects will help diversify and support our economic growth, enhance liveability within our communities and provide jobs in our regions and the metropolitan area.”

Some of the highlights within the capital program include:

Mr Dick said the capital program built upon the State Government’s support for the building and property development industries through stimulus measures and initiatives including the:

“This Government is focused on getting our state’s economy back on its feet and building a stronger and more resilient economy,” he said.

“Working in partnership with the private sector to invest and build vital infrastructure strengthening industries, supporting jobs and enabling future growth is vital to achieving our goals.”

Infrastructure Association of Queensland (IAQ) Chief Executive Officer Priscilla Radice welcomed the release of the Government’s Capital Program 2020 Update.

“In our recent 2020 IAQ survey, having a clear pipeline of work was identified by our members as the most pressing issue,” Ms Radice said.

“The infrastructure update gives industry visibility of the government’s continuing significant investment which is exactly what is needed to build confidence, help with workforce planning and grow the economy.

“We know that for every $1 the government spends on infrastructure the private sector spends $13, creating jobs now and long-term economic benefits into the future.”

Master Builders Deputy CEO Paul Bidwell says this is a strong increase of $1 billion on last year’s commitment.

“Given the current circumstances, it was vital spending be increased and we are pleased the Queensland Government has delivered on that front."

View the Capital Program 2020 Update here, http://www.dsdmip.qld.gov.au/infrastructure/infrastructure-planning-and-policy/state-infrastructure-plan.html.

 

--ENDS--

 

Source:  Queensland Government - www.statements.qld.gov.au

Date of Original:  20 August 2020

Contact:  N/A

External Links:  http://www.dsdmip.qld.gov.au/infrastructure/infrastructure-planning-and-policy/state-infrastructure-plan.html

http://statements.qld.gov.au/Statement/2020/7/26/200-million-investment-in-building-acceleration-fund

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