Commonwealth delivers historic lift in infrastructure funding

08 October 2020

The Commonwealth has responded decisively to the COVID-19 crisis, with a historic lift in infrastructure funding in this year’s Federal Budget, according to industry think tank Infrastructure Partnerships Australia.

“The Federal Government has moved decisively in this Budget, lifting total infrastructure funding to $48.8 billion over the forward estimates, a surge of $19.3 billion from the four-year spend set out in last year’s Budget,” said Infrastructure Partnerships Australia’s Chief Executive Adrian Dwyer.

“This Budget is an infrastructure call-to-arms for the states and business and lays down the challenge of turning dollars on a page into boots on the ground.

“This Budget delivers a 65 per cent increase in planned spending from last year’s Budget and represents the largest infrastructure funding allocation seen from a Federal Government in Australia’s modern history.

“In kicking off a belated Budget season, the Federal Government has set a high infrastructure funding watermark for the states to follow.

“It’s good to see the Treasurer has taken our advice and gone hard on funding for projects that can be deployed to market quickly, with a continued commitment to spending over the long term.

 “The $7.5 billion in additional funding for land transport projects on top of the $2 billion for small-scale road safety projects and additional $1 billion for the Local Roads and Community Infrastructure Program will drive broad-based job creation at the local level where it is needed.

“The Federal Government’s initiative to provide funding to state and local governments on a ‘use it or lose it’ basis is a smart decision that will accelerate project delivery and ensure construction boots hit the ground faster,” said Mr Dwyer.

Infrastructure Partnerships Australia is the nation’s industry think tank providing independent policy research focused on excellence in social and economic infrastructure.

 

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Source:  Infrastructure Partnerships Australia - www.infrastructure.org.au

Date of Original:  06 October 2020

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