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Local businesses to be prioritised in $7.5bn infrastructure spend

Adrian Flores
Adrian Flores
06 October 2020 1 minute readShare
infrastructure spend

BUDGET 2020: The federal government has said it will “draw on local businesses to stimulate local economies” after announcing $7.5 billion in new investment towards transport infrastructure projects.

The funding will form part of the government’s federal budget to be delivered tonight by Treasurer Josh Frydenberg.

The investment is set to be spread across all states and territories, including:

  • $560 million for the Singleton Bypass on the New England Highway in New South Wales;
  • $528 million for the Shepparton and Warrnambool Rail Line Upgrades in Victoria;
  • $750 million for Stage 1 of the Coomera Connector (Coomera to Nerang) in Queensland;
  • $88 million for the Reid Highway Interchange with West Swan Road in Western Australia;
  • $200 million for the Hahndorf Township Improvements and Access Upgrade in South Australia;
  • $150 million for the Midway Point Causeway (including McGees Bridge) and Sorell Causeway as part of the Hobart to Sorell Roads of Strategic Importance corridor in Tasmania;
  • $120 million to upgrade the Carpentaria Highway in the Northern Territory; and
  • $88 million for the Molonglo River Bridge in the ACT.

Deputy Prime Minister and Minister for Infrastructure, Transport and Regional Development Michael McCormack said the investment will boost local jobs.

“We will draw on local businesses to stimulate local economies through these projects,” Mr McCormack said.

“Infrastructure means jobs, it means livelihoods, it means stronger local communities and it means building a better and more secure future for our nation.”

Ahead of tonight’s federal budget, Prime Minister Scott Morrison said projects will keep commuters safe on the road, get people home to their loved ones sooner and provide better transport links for urban and regional communities.

“We have been working closely with state and territory governments to invest in the infrastructure that is ready to go and can help rebuild our economy and create more jobs,” Mr Morrison said.

“This investment through Tuesday’s budget will boost the national economy and is part of our plan to support an estimated 30,000 direct and indirect jobs across the nation.”

Local businesses to be prioritised in $7.5bn infrastructure spend
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Adrian Flores
Adrian Flores

Adrian Flores is the deputy editor of MyBusiness. Before that, he was the deputy editor for SMSF Adviser as well as features editor for ifa (Independent Financial Adviser), InvestorDaily, Risk Adviser, Fintech Business and Adviser Innovation.

You can email Adrian at [email protected].

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