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Budget to spend big on infrastructure

The federal budget will include at least $5 billion in funding for infrastructure projects aimed at making roads safer, reducing travel times and supporting thousands of jobs.

“Our record funding commitment is creating jobs, boosting business investment, while securing Australia’s COVID recovery,” Prime Minister Scott Morrison says.

Deputy Prime Minister and Infrastructure Minister Michael McCormack said the substantial new funding is a key plank of the government’s plan to help Australia bounce back stronger than ever from the pandemic.

“More money for infrastructure means more jobs, more local procurement and a better future for businesses across the country and that’s why this investment is the centrepiece of our National Economic Recovery Plan,” Mr McCormack says.

Treasurer Josh Frydenberg will hand down his third budget on Tuesday.

KEY PROJECTS TO BE FUNDED INCLUDE:

* $2 billion initial investment for a new Melbourne Intermodal Terminal

* $2.03 billion for Great Western Highway Upgrade – Katoomba to Lithgow – construction of east and west sections in NSW

* $400 million for Inland Freight Route (Mungindi to Charters Towers) upgrades in Queensland

* $161.6 million for the Truro Bypass in South Australia

* $160 million for Agricultural Supply Chain Improvements – ‘Package 1’ in Western Australia

* $150 million for National Network Highway upgrades (Phase 2) in the Northern Territory

* $80 million for Bass Highway safety and freight efficiency upgrades in Tasmania

* $26.5 million for William Hovell Drive duplication in the ACT

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