The infrastructure projects being improved upon on a state- and territory-based level are:
•$5.2 billion for new major projects, which include:
Queensland’s Great Barrier Reef was mentioned in particular, which includes:
•$535.9 million being given to it in order to support the World Heritage-listed site and the jobs it creates,
•$443.8 million to partner with the Great Barrier Reef Foundation to support the reef,
•$200.6 million to improve water quality,
•$100 million towards coral restoration and adaption research,
•$58 million towards programs for the crown-of-thorns starfish,
•$40 million towards reef health monitoring and reporting; and
•$44.8 million for plan delivery and engagement with traditional owners and the broader community for reef protection.
•$1.5 billion is being contributed towards new projects, which include
•The Commonwealth and NSW governments will be equally funding the first stage of the North South Rail Link in Western Sydney; and
•The construction of the Western Sydney Airport will commence this year with up to $5.3 billion of government equity being contributed as part of stage one, with approximately 28,000 direct and indirect jobs to be created as a result by 2031.
•$7.8 billion for new major projects, which include:
•$9.3 billion for the Melbourne to Brisbane Inland Rail project estimated to start this year, with an approximate 16,000 direct and indirect jobs created during construction.
◾$177 million for the Regency Road to Pym Street section;
•$461 million for the Bridgewater Bridge replacement; and
•An additional $59.8 million for the Tasmanian Freight Rail Revitalisation package.
•$100 million for the Monaro Highway upgrade.
•$280 million for upgrades to the Central Arnhem Road and the Buntie Highway.
Looking to the regional areas of Australia:
•$200 million will be injected for a third round of the Building Better Regions fund in order to support regional infrastructure and community investment; and
•$272 million is being added to the Regional Growth Fund and is predicted to create more jobs.
More detailed coverage and expert analysis will follow on Smart Property Investment, so stay tuned.