Statement 1: Budget Overview (Continued)
Building the infrastructure we need
The 2012‑13 Budget includes measures that invest in high‑quality infrastructure projects, in order to expand capacity and boost productivity. This builds on the Government's nation building programs, which is rolling out around $36 billion of funding over six years to 2013‑14, and also the Government's reforms to infrastructure financing which were announced in the 2011‑12 Budget. The Government has now contributed funding towards all of the projects assessed as 'ready to proceed' on Infrastructure Australia's 2009 Priority List.
Key measures in this Budget include $3.6 billion to duplicate the Pacific Highway, additional funding for the Roads to Recovery and Black Spots programs, a commitment to develop the Moorebank Intermodal Terminal and $232.1 million towards the Torrens and Goodwood rail project in Adelaide.
Duplicating the Pacific Highway
The Australian Government will provide $3.6 billion between 2013‑14 and 2016‑17 towards the duplication of the Pacific Highway, conditional on a 50:50 funding share arrangement with the New South Wales Government. This will enable the Australian Government to meet its commitment to duplicate the Highway by 2016. A fully duplicated Pacific Highway will improve freight efficiency and transport safety, enhancing the nation's economic development.
Strengthening our commitment to road safety
The Government will provide funding for key programs that focus on achieving road safety outcomes through its Nation Building 2 Program. This includes:
- $350.0 million a year for the Roads to Recovery program, which focuses on repairing and upgrading local roads to improve safety and access to services in our communities; and
- $60.0 million a year for the Black Spots program, which targets those road locations where crashes are occurring.
The Government remains committed to improving road infrastructure to ensure Australians have access to safe roads.
Improving the flow of freight to lift productivity
In this Budget, the Government has made a commitment to develop the Moorebank Intermodal Terminal in conjunction with the private sector, as a way to improve the movement of freight to and from Port Botany. The terminal will provide a much‑needed integrated transport solution for the movement of freight to and within the Sydney basin, which will boost national productivity, reduce business costs and relieve bottlenecks and urban congestion. Importantly, the project will deliver on the Government's commitment at the last Budget to seek opportunities for increased involvement by the private sector in nationally significant infrastructure projects.
The Government is also providing $232.1 million towards the Torrens and Goodwood rail project, which will help ease congestion on Adelaide's suburban and freight rail networks.
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