The Federal Government has welcomed the Queensland Government’s announcement that it will match its $1 billion investment in M1 Motorway upgrades.
In April, the Federal Government it would commit $1 billion for the construction of two high-priority upgrade projects—one between Varsity Lakes and Tugun on the Gold Coast end of the M1 Corridor, the other between Eight Mile Plains and Daisy Hill.
Federal Minister for Urban Infrastructure and Cities Paul Fletcher said in a statement that it was pleasing the state government has now abandoned its earlier argument that the Commonwealth should fund 80 per cent of the cost of these projects.
“50:50 funding has consistently applied for projects on the M1 between Brisbane and the Gold Coast for many years under both Labor and Coalition federal Governments,” Mr. Fletcher said in the statement.
“The Turnbull Government has long recognised that the M1 is one of the most important and heavily congested routes in Queensland – with nearly 30 million tonnes of freight moving between New South Wales and Queensland each year and between 50,000 and 155,000 vehicles per day using sections of the M1 from Springwood to Tugun.
“The Turnbull Government now looks forward to seeing detailed business cases from the Queensland Government provided to Infrastructure Australia.”