2022-23 Federal Budget: $17.9 billion investment for infrastructure

The 2022-23 Federal Budget has been announced and the Australian Government is committing $17.9 billion towards new and existing infrastructure projects across the country. 

This significant funding increases the Government’s rolling 10-year infrastructure investment pipeline from $110 billion to a record $120 billion. 

The Australian Government will continue to invest in projects that will not only create jobs but will also keep freight and commuters “safe and moving” as well as aid in the nation’s economic growth. 

“A strong economy means a stronger future. 

“Continuing to provide record future funding for road and rail projects is a key part of our economic plan for long term to keep our economy strong. 

“Australia’s future success relies on a strong economy. Our strong economic recovery is being driven by our record funding for major road projects right across the country,” Prime Minister Scott Morrison said. 

The 2022-23 Budget will fund new key projects, including: 

• $3.1 billion in new commitments to deliver the $3.6 billion Melbourne Intermodal Terminal Package in VIctoria, including: 
  • $1.2 billion for the Beveridge Interstate Freight Terminal in Beveridge, taking the total investment to $1.62 billion 
  • $280 million for Road Connections, including Camerons Lane Interchange, to the Beveridge Interstate Freight Terminal 
  • $740 million for the Western Interstate Freight Terminal in Truganina 
  • $920 million for the Outer Metropolitan Ring – South Rail connection to the Western Interstate Freight Terminal 
• $1.6 billion for the Brisbane to Sunshine Coast (Beerwah – Maroochydore) rail extension in Queensland 
• $1.121 billion for the Brisbane to the Gold Coast (Kuraby – Beenleigh) faster rail upgrade in Queensland 
• $1 billion for the Sydney to Newcastle (Tuggerah to Wyong) faster rail upgrade in New South Wales 
• $678 million for Outback Way in the Northern Territory, Western Australia and Queensland 
• $336 million for the Pacific Highway – Wyong Town Centre in New South Wales 
• $336 million for the Tasmanian Roads Package – Northern Roads Package – Stage 2 in Tasmania 
• $200 million for the Marion Road – Anzac Highway to Cross Road in South Australia 
• $145 million for the Thomas Road – Dual Carriageway – South Western Highway to Tonkin Highway and interchange at Tonkin Highway in Western Australia 
• $140 million for Regional Road Safety upgrades in Western Australia 
• $132 million for Central Australian Tourism Roads in the Northern Territory 
• $120 million for the Adelaide Hills Productivity and Road Safety Package in South Australia 
• $46.7 million towards the Athllon Drive Duplication in the Australian Capital Territory 

The recently announced Federal Budget will also include additional funding for existing projects as well as Roads of Strategic Importance corridors, including: 

• $2.264 billion for the North South Corridor – Torrens to Darlington in South Australia 
• $352 million for the Milton Ulladulla Bypass in New South Wales 
• $320 million for the Bunbury Outer Ring Road (Stages 2 and 3) in Western Australia 
• $200 million for the Tonkin Highway Stage 3 Extension in Western Australia 
• $45 million for the Ballarat to Ouyen – Future Priorities in Victoria 
• $68.5 million for the Cooktown to Weipa Corridor Upgrade in Queensland bringing the total Australian Government funding to the corridor to $258.5 million 

“We are investing in projects that will drive the growth of industries that generate the wealth our nation needs to become as strong as possible as quickly as possible. 

“Getting more commodities to ports and sending them overseas will generate more export income, making our nation wealthier and stronger. Better roads and infrastructure will enable that,” Deputy Prime Minister and Minister for Infrastructure, Transport and Regional Development Barnaby Joyce said. 

Treasurer Josh Frydenberg said that infrastructure is a “key pillar” in the nation’s economic growth that will also deliver more jobs for Australians. 

“With the unemployment rate already at an equal 48 year low, the measures in this Budget will create an additional 40,000 jobs across Australia, building on our world leading economic recovery. 

“By enhancing transport connectivity, we’re strengthening our supply chains against challenges such as COVID-related disruptions and the impact of natural disasters. This gives businesses and consumers the confidence and certainty they need in uncertain times,” Mr Frydenberg said. 

In addition to delivering vital infrastructure, the significant investment will also support sustainable growth across Australia. 

“Our Government has a strong track record in delivering infrastructure that improves connections, reduces congestion and helps keep Australians moving, particularly across our fast growing urban centres. 

“What this means for commuters is less time spent in traffic and more time with loved ones, and the ability to move around more easily for work, which has a positive economic and productivity impact while helping secure long-term prosperity and liveability,” Minister for Communications, Urban Infrastructure, Cities and the Arts Paul Fletcher said. 

Source: Minister for Infrastructure, Transport and Regional Development; Minister for Communications, Urban Infrastructure, Cities and the Arts