Australia’s 2021-2022 Budget: $15 Billion for Infrastructure Over Next 10 Years
The Australian Government has committed $15bn over 10 years to road, rail and community infrastructure projects as part of its 2021-2022 Federal Budget. The announcement takes the total infrastructure spend to $110bn over 10 years.
The budget has had a mixed reception from the infrastructure industry, with some welcoming the news but others pointing to the plateau in road investment since 2018.
“The Federal Government has raised its high watermark of infrastructure funding in this year’s Budget… The challenge now is getting dollars out the door and diggers in the dirt”, said Adrian Dwyer, CEO of Infrastructure Partnerships Australia.
Many of the big-ticket items have previously been foreshadowed, whereas others have had additional funding allocated. These include:
- $2.6bn in South Australia for the North-South Corridor (Darlington to Anzac Highway)
- $2bn in Victoria for the Melbourne intermodal terminal, which is hoped to increase the efficiency of the national rail freight network and take thousands of trucks off the road.
- $2bn in New South Wales for the Great Western Highway upgrade (Katoomba to Lithgow)
- Additional $1bn to extend the local roads and community infrastructure program
- Additional $1bn to extend the road safety program to 2022-2023
- $400m in Queensland in additional funding for the Bruce Highway
The additional spend is part of the government’s stimulus measures to support employment in the post-pandemic economy.
Tell us – what do you make of the latest infrastructure budget announcements?