The Federal Government is ensuring infrastructure investment focuses on delivering priority road and rail projects, investing an additional $2.7 billion on infrastructure over the forward estimates in the 2024-25 Mid-Year Economic and Fiscal Outlook (MYEFO).
Priority projects include critical road safety work as well as upgrades to freight networks that support national productivity.
Investment is targeting essential public transport projects that will get more people off the roads and provide more affordable commuter options.
This includes additional investment to accelerate works on the Bruce Highway in Queensland, the North South Corridor in South Australia and the Carpentaria Highway in the Northern Territory.
We are also boosting and indexing road maintenance funding on the National Land Transport Network – which was frozen by the Coalition Government in 2014-15 – and to ensure the delivery of 53 projects already underway. This is critical funding that helps ensure major roads get the attention they deserve from fixing pot holes to road sealing.
The Federal Government has undertaken significant reform to the Infrastructure Investment Program, bringing the number of projects to a more sustainable level.
“We remain committed to a sustainable 10-year, over $120 billion infrastructure investment pipeline, and this additional investment is about ensuring the priority projects continue to roll out to the benefit of all Australians,” Minister for Infrastructure, Transport, Regional Development and Local Government, Catherine King said.
“We are dedicated to delivering nationally significant infrastructure projects that enhance productivity and resilience, improve liveability, and promote sustainability.”
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