Breaking News Today

Government unveils near $4b spend on NSW and Victorian road projects

Published: (Updated: ) in Australian News by .

The infrastructure cash splash will see $3.8 billion spent across 39 projects on Australia’s eastern seaboard.

The Federal Government has announced almost $4 billion worth of road and rail projects for Victoria and New South Wales ahead of tomorrow's budget.

The infrastructure cash splash – designed to simultaneously create post-COVID jobs and improve access to regional areas – will see $3.8 billion spent across 39 projects on Australia's eastern seaboard.

Of that, $2.7 billion will be spent on projects in NSW while $1.1 billion will be spent on transport infrastructure projects in Victoria.

READ MORE: Income tax cuts tipped to be backdated to July this year

Key investments for New South Wales include $560 million for the Singleton Bypass on the New England Highway; $360 million for the Newcastle Inner City Bypass between Rankin Park and Jesmond; $120 million for the Prospect Highway Upgrade; and an additional $491 million for the Coffs Harbour Bypass.

Funding for Victorian projects includes $320 million for the Shepparton Rail Line Upgrade; $208 million for Stage 2 of the Warrnambool Rail Line Upgrade; $292 million for the Barwon Heads Road Upgrade; and $85 million to upgrade Hall Road in Cranbourne.

A full list of infrastructure and roads spending across the two states can be found below.

READ MORE: Apprenticeships to be subsidised under new federal budget plan

Prime Minister Scott Morrison said tomorrow's budget was designed to use construction work as a means to lift Australia out of its COVID-19 recession.

"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.

READ:  John X: from Lindisfarne North to Global Stage

"These 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."

READ MORE: Massive $800 million boost to help businesses go online

Barangaroo construction site

Deputy Prime Minister and Minister for Infrastructure Michael McCormack said where possible the government will use local businesses and labour.

"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."

The pre-budget announcements come amid predictions Australia will be staring down a deficit of more than $200 billion – equivalent to 10 per cent of the nation's GDP and the biggest plunge into the red since World War II.

Already the Federal Government has committed to lowering the cost of an apprenticeship, and it is also widely tipped to fast-track income tax cuts in an attempt to encourage Australians to spend more in their local community.

READ MORE: Pandemic delivers record-breaking hit to Australia's GDP

NSW ROAD AND RAIL SPENDING

New projects

Project

Federal Funding

Total Cost

Ettamogah Rail Hub (ERH)

$2.6 million

$12.2 million

Grade separating road interfaces with Inland Rail

$150 million

$187.5 million

Heathcote Road Upgrade, Hammondville to Voyager Point

$94 million

$188 million

Hogbin Drive, Coffs Harbour Airport Freight Access

$3 million

$6 million

M1 North Smart Motorway - ANZAC Bridge to Warringah Freeway

$60 million

$120 million

New England Highway - Singleton Bypass

$560 million

$700 million

Newcastle Inner City Bypass, Rankin Park to Jesmond

$360 million

$450 million

Newell Highway Upgrade - Dubbo Bridge

$176.2 million

$220.2 million

Newell Highway Upgrade - Heavy Duty Pavement Upgrades

$205.7 million

$257.2 million

Newell Highway Upgrade - Overtaking Lanes

$60 million

$72 million

Newell Highway Upgrade - Parkes Bypass

$149.7 million

$187.2 million

Northern NSW Inland Port – Narrabri

$7.8 million

$7.8 million

Pooncarie Road (Wentworth Shire)

$4.6 million

$9.2 million

Prospect Highway Upgrade

$120 million

$240 million

Sydney to Newcastle Faster Rail - Planning

$15 million

$15 million

Subtotal

$1968.6 million

$2672.2 million

READ:  Good Samaritan walking his dog takes down man fleeing police on Gold Coast

Additional funding

Project

Additional Federal Funding

Total Federal Funding

Central Coast Roads Package

$16.7 million

$86.5 million

Coffs Harbour Bypass

$490.6 million

$1461.6 million

Commuter Car Park Upgrade - T1 North Shore, Northern and Western Line - St Marys

$13.8 million

$33.8 million

Commuter Car Park Upgrade - T8 East Hills Line – Campbelltown

$7.1 million

$22.1 million

Commuter Car Park Upgrade - T8 East Hills Line - Revesby

$3 million

$12.5 million

Commuter Car Park Upgrade - T8 East Hills Line – Riverwood

$1 million

$10.5 million

Dixons Long Point Crossing

$9.8 million

$29.8 million

Dunheved Road Upgrade, Penrith

$63.5 million

$127 million

Jane Street and Mulgoa Road Infrastructure Upgrade

$37.5 million

$72.5 million

Mulgoa Road Upgrade

$46.4 million

$126.4 million

New England Highway – Bolivia Hill Upgrade

$43 million

$98 million

Subtotal

$732.3 million

$1994.1 million

Total new funding

$2700.9 million

VICTORIA ROAD AND RAIL SPENDING

New projects

Project

Federal Funding

Total Cost

Arthurs Seat Pedestrian Improvements

$0.3 million

$0.3 million

Barwon Heads Road Upgrade

$292 million

$365 million

Hall Road Upgrade

$84.5 million

$169 million

Improving connectivity to Port of Melbourne - Business Case

$7.5 million

$15 million

Improving Passenger Rail Services from Northern Victoria to Melbourne

$7.5 million

$15 million

Narre Warren North Road Upgrade

$31 million

$62 million

Shepparton Rail Line Upgrade – Stage 3

$320 million

$400 million

South Road Upgrade

$22.5 million

$45 million

Warrnambool Rail Line Upgrade – Stage 2

$208 million

$260 million

Western Port Highway Upgrade

$27.2 million

$54.3 million

Western Rail Plan - Further Planning

$30 million

$60 million

Subtotal

$1030.5 million

$1445.6 million

READ:  City’s libraries reopening in July

Additional funding

Project

Additional Federal Funding

Total Federal Funding

Bonang Road Upgrade, Bonang

$7 million

$9 million

McKoy Street - Hume Freeway Intersection Upgrade

$104 million

$168 million

Subtotal

$111 million

$177 million

Total new funding

$1141.5 million

You can get up-to-date information from the Federal Government's Coronavirus Australia app, available on the App StoreGoogle Play and the Government's WhatsApp channel.

Beyond Blue's Coronavirus Mental Wellbeing Support Service is a 24/7 service free of charge to all Australians. Visit the site here or call 1800512348

For coronavirus breaking news alerts and livestreams straight to your smartphone sign up to the 9News app and set notifications to on at the App Store or Google Play.

Source: 9News https://www.9news.com.au/national/federal-budget-2020-huge-4-billion-road-and-rail-spend-nsw-and-victoria/221f51d1-98a0-4121-81f5-c98f95bf12f3

Shares
Share This
Finance Advice 2021