By 2020, the Government has pledged a record $50 billion for infrastructure, investing in roads, rails and dams, linking regional and urban areas and making our major cities more attractive for investment through its Smart Cities Plan.
Victoria has already received $1.5 billion to help fund upgrades to the Monash Freeway, Murray Basin Freight Rail line, the M80 Ring Road and other urban and regional roads. Another $594 million in equity funding will be provided to help acquire land for the Melbourne to Brisbane Inland Rail project.
Western Australia will see $490 million invested in its Forrestfield-Airport Rail Link, with another $261 million being poured into the Perth Freight Link. Queensland will get $200 million towards the first stage of the Ipswich Motorway and another $115 million will be put into preparations for the Western Sydney Airport.
A $2 billion National Water Infrastructure Loan Facility will be set up to assist in the development and management of Australia’s waterways and dams.
Around $920 million is being set aside for various infrastructure programs, including the Roads to Recovery program, multiple bridge and rail upgrades, Black Spots programs and the Heavy Vehicle Safety and Productivity program.
What does this mean for you?
Better, safer roads will help connect regional and urban area, and linking freight lines with major cities could mean lower prices on goods shipped interstate. The Smart Cities Plan aims to make it easier for business to invest in our cities, so, once again, we could see an increased range of products and services at more affordable prices.
What do you think of this investment? Will you benefit from these upgrades?