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News » International » Australian budget allocates $24.5bn for transport » published 9 May 2018

Australian budget allocates $24.5bn for transport

Australia’s latest budget has committed AU$24.5bn (£13.5bn) to fund new major transport projects and initiatives as part of an AU$75bn investment over the next decade.

AU$400m has been allocated to duplicate the Port Botany Rail Line Above: AU$400m has been allocated to duplicate the Port Botany Rail Line

The investments span road, rail and public transport. The government is committing AU$3.5bn to a new initiative, Roads of Strategic Importance (RoSI). Under RoSI, funding will be provided to upgrade key freight routes to improve road safety and to create better connections to export markets.

An AU$1bn Urban Congestion Fund will be established to tackle congestion in cities and there will be AU$250m for a newly established Major Project Business Case Fund for the development and planning of nationally significant projects.

Funding for new major projects includes a commitment that the Federal and New South Wales Governments will be equal partners in funding the first stage of the North South Rail Link in Western Sydney. The Government is also providing AU$971m for the Pacific Highway Coffs Harbour Bypass, and AU$400m to duplicate the Port Botany Rail Line.

In Victoria, there is a commitment of up to AU$5bn for the Melbourne Airport Rail Link and funding of AU$1.75bn for the North East Link.

Other budget announcements include an additional AU$3.3bn for continuing upgrades of the Bruce Highway in Queensland.

 

MPU

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This article was published on 9 May 2018 (last updated on 9 May 2018).

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