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Building Australia's Infrastructure

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Building Australia's Infrastructure Building Australia’s Infrastructure May 2014 © Commonwealth of Australia 2014 ISBN: 978-0-642-74984-0 This publication is available for your use under a Creative Commons BY Attribution 3.0 Australia licence, with the exception of the Commonwealth Coat of Arms, third party content, all photographs and graphics and where otherwise stated. The full licence terms are available from http://creativecommons.org/licenses/by/3.0/au/legalcode. Use of Commonwealth of Australia material under a Creative Commons BY Attribution 3.0 Australia licence requires you to attribute the work (but not in any way that suggests that the Commonwealth of Australia endorses you or your use of the work). Commonwealth of Australia material used ‘as supplied’ Provided you have not modified or transformed Commonwealth of Australia material in any way including, for example, by changing the Commonwealth of Australia text; calculating percentage changes; graphing or charting data; or deriving new statistics from published Commonwealth of Australia statistics — then Commonwealth of Australia prefers the following attribution: Source: The Commonwealth of Australia Derivative material If you have modified or transformed Commonwealth of Australia material, or derived new material from those of the Commonwealth of Australia in any way, then Commonwealth of Australia prefers the following attribution: Based on Commonwealth of Australia data Use of the Coat of Arms The terms under which the Coat of Arms can be used are set out on the It’s an Honour website (see www.itsanhonour.gov.au) Other Uses Inquiries regarding this licence and any other use of this document are welcome at: Manager Communications The Treasury Langton Crescent Parkes ACT 2600 Email: [email protected] Internet A copy of this document is available on the central Budget website at: www.budget.gov.au. Printed by CanPrint Communications Pty Ltd Building Australia’s Infrastructure May 2014 Contents Catalysing infrastructure investment ........................................................................................................... 1 Infrastructure – laying the foundations for future growth........................................................................... 2 The Asset Recycling Initiative… .................................................................................................................... 4 …. helping states unlock their balance sheets ............................................................................................ 5 New infrastructure investments ................................................................................................................... 6 Establishing an Asset Recycling Fund .......................................................................................................... 7 Secure funding for new road infrastructure ................................................................................................. 8 Alternative financing – leveraging investment .......................................................................................... 10 Improving project selection and delivery ...................................................................................................11 New South Wales ........................................................................................................................................12 Western Sydney Infrastructure Plan ........................................................................................................ 13 WestConnex ............................................................................................................................................14 NorthConnex ...........................................................................................................................................15 Pacific Highway .......................................................................................................................................16 Victoria .........................................................................................................................................................18 East West Link ........................................................................................................................................19 Queensland .................................................................................................................................................20 Bruce Highway ........................................................................................................................................21 Gateway Motorway North .........................................................................................................................22 Toowoomba Second Range Crossing ......................................................................................................23 Western Australia ........................................................................................................................................ 24 The Perth Freight Link ..............................................................................................................................25 Perth Airport Gateway .............................................................................................................................27 Swan Valley Bypass .................................................................................................................................28 South Australia ...........................................................................................................................................30 North-South Road Corridor ......................................................................................................................31 Tasmania .................................................................................................................................................... 32 Midland Highway ..................................................................................................................................... 33 Northern Territory ........................................................................................................................................34 Australian Capital Territory .........................................................................................................................35 Inland Rail ...................................................................................................................................................36 New and continuing initiatives… ................................................................................................................. 37 Appendix A: Getting on with the job – Infrastructure construction schedule ..........................................38 Appendix B: Commonwealth expenditure on infrastructure .....................................................................39 Infrastructure investment The Australian Government is investing $50 billion across Australia over seven years to deliver vital transport infrastructure for the 21st Century. This investment includes: $594 million NT $4.7 billion $13.4 billion QLD WA SA $14.9 billion NSW $2 billion ACT $293 million VIC $7.6 billion $1 billion The above commitments include: TAS Roads to Recovery Programme $2.47 billion Black Spot Programme $565 million Bridge Renewal Programme $300 million Heavy Vehicle Safety Productivity Package $248 million Catalysing infrastructure investment The Government is making a historic investment costs and increasing the liveability of our cities in the 2014–15 Budget to get on with building and regional areas. Australia’s infrastructure. The Government’s investment will also generate A core element of the Government’s Economic significant additional state and private sector Action Strategy is the commitment of an additional participation to build the infrastructure that $11.6 billion in the Budget for the Infrastructure Australia needs. Growth Package. The $11.6 billion Infrastructure Growth Package The Growth Package delivers $5.0 billion for the is expected to catalyse over $58 billion of new Asset Recycling Initiative, $3.7 billion to boost infrastructure investment, in particular by unlocking infrastructure investments to expedite projects state government balance sheets. This is on top of and $2.9 billion for the Western Sydney the Government’s existing Infrastructure Investment Infrastructure Plan. It brings the Commonwealth’s Programme, which will generate some $68 billion in total investment in infrastructure to $50 billion infrastructure investment when combining expected through to 2019–20. state and private sector funding. This represents a record level of investment in Taken together, this will catalyse additional infrastructure by a Commonwealth government and infrastructure investment in excess of $125 billion. reflects the Government’s resolve to take decisive This investment will transform infrastructure across action to get real activity going, improve productivity the country and lay the foundations for future and build a stronger, more prosperous economy. growth. When the construction projects supported These particular investments will improve the by the Government’s infrastructure initiatives are quality, efficiency and adequacy of road and rail completed, they will add around 1 percentage links, reducing congestion, lowering business point to GDP. * This figure does not include potential
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