The Federal Government has handed down its 2024/25 budget, which specifically outlines investment spend towards Australia’s $120 billion, ten-year infrastructure pipeline. Here’s the full rundown.
Better transport for cities, regions and suburbs is a big focus of the Federal Government’s 2024/25 budget, with $9.5 billion announced over the forward estimates, and $16.5 billion over 10 years, for projects that improve productivity, liveability, and sustainability.
$4.1 billion has been allocated to 65 new priority infrastructure projects across Australia.
Queensland leads the way, with $21.6 billion committed over ten years, followed by New South Wales ($20.8 billion), Victoria ($19.2 billion), South Australia ($9.7 billion), Western Australia ($8.9 billion), the Northern Territory ($2.8 billion), Tasmania ($2.2 billion) and the ACT ($808.6 million).
When it comes to specific infrastructure works, funding highlights include $3.3 billion for the North East Link, $1.7 billion for METRONET, $1.2 billion for the Direct Sunshine Coast Rail Line, $500 million to upgrade Mamre Road in Western Sydney, $467.2 million for the Bruce Highway Corridor, $437.3 million for road upgrades in south eastern and northern Melbourne and $400 million to upgrade sections of Elizabeth Drive in New South Wales.
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Additional highlights include $237.6 million to deliver priority projects along the Stuart, Victoria and Barkley Corridor, $176 million to deliver three new projects along the Regional Roads Corridor and $132.8 million for the Great Northern Highway Corridor.
The Federal Government is also investing $2 billion into planning and delivering more efficient regional transport networks that will transform the way communities live and move within Western Sydney.
A $200 million investment was announced for the Safer Local Roads and Infrastructure Program and $100 million over four years for an Active Transport Fund which will support the construction and upgrade of bicycle and walking paths across Australia.
The Budget also provides for $176.4 million to deliver new water infrastructure projects. A further $101.9 million has been committed to upgrade regional airports and remote airstrips.
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