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This year’s Federal Budget provides a boost to the construction industry.
This year’s Federal Budget provides a boost to the construction industry.

Construction gets leg up in Federal Budget

The latest federal budget contains various infrastructure initiatives set to benefit the construction and quarrying industries.

Released on 8 May, a focal point of the 2018-19 budget is infrastructure spending – the Federal Government is investing in an additional $24.5 billion on transport projects, taking its spending on infrastructure projects up to $75 billion over the next 10 years.

“The formula is clear – strong investment in infrastructure improves the economy and creates more jobs.”
Ken Slattery, CCAA CEO

Commenting on the budget, Cement Concrete and Aggregates Australia (CCAA) CEO Ken Slattery said the government’s investment was contingent on the continual supply of heavy construction materials.

“The formula is clear – strong investment in infrastructure improves the economy and creates more jobs,” Slattery said.

“It is critical that all levels of government work together to support land use policies that ensure concrete plants and quarries are appropriately located, and transport policies that allow heavy vehicles to deliver these essential materials.”

State by state plans

Victoria has been earmarked to receive $7.8 billion in funding. This includes $1.8 billion for the North East Link, $475 million for a Monash rail line, $132 million for the Princes Highway in Gippsland and $50 million for Geelong line upgrades. It also includes $5 billion for a rail line to Melbourne airport; however, this is subject to the Victorian Government matching funding.

New South Wales will receive an extra $1.5 billion for new projects, including approximately $1 billion for the Pacific Highway bypass project and $400 million for upgrades to the Sydney freight rail network.

Queensland will receive $5.2 billion, including $3.3 billion for the Bruce Highway, $1 billion for the Pacific Motorway, $390 million for railway duplication to Nambour, $300 million for the Brisbane Metro rail project and $170 million for the Amberley Interchange.

Western Australia will receive $2.6 billion, including an additional $1.1 billion for Perth Metronet, almost $1 billion to combat Perth road congestion and $560 million for a Bunbury ring road.

South Australia is set to receive $1.8 billion, including $1.4 billion for the North-South Road and $220 million for Gawler line electrification.

Tasmania will receive $461 million for a new Bridgewater bridge, the ACT will receive a $100 million upgrade to the Monaro Highway and the NT will receive $280 million for road upgrades.

More reading
Federal budget promises boost to infrastructure
Federal budget shows support for small business
Federal budget a ‘mixed bag’ for quarry industry




















Thursday, 21 June, 2018 04:58am
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