Victorian budget sets the pace for the nation

07 May 2018

IPA: The Victorian Budget has set the pace for the nation, providing $40 billion of firm infrastructure funding built off the back of prudent financial management and the windfall proceeds of Victoria’s continued asset recycling programme, says peak body Infrastructure Partnerships Australia.

“The Victorian Budget has set a high standard for next week’s Federal Budget, with an investment boom in road and rail infrastructure that will put the State in a good position to accommodate its rapidly growing population,” said IPA Chief Executive Adrian Dwyer.

“It’s good to see the Andrews Government cranking up funding for infrastructure and harnessing private sector expertise and capital through Public Private Partnership type models like the Northern and South East suburban road upgrade packages,” said Mr Dwyer.

The Andrews Government has announced $2.2 billion in funding to upgrade congested suburban roads in the North and South East of Melbourne, on top of the $1.8 billion Western Roads Upgrade package from last year’s Budget.

“The Western roads package was one of the most innovative procurements of its kind and a huge success for Victoria – the Andrews Government is right to extend the benefits to road users in the North and South East of Melbourne.

“A long-term, stable approach to road investment like this means fewer Victorians sitting in traffic waiting to get home to see their kids, and better value for money for taxpayers,” Mr Dwyer said.

In addition $689 million has been committed to expand the Lara Prison Precinct and a further $320 million in funding for the Victorian Heart Hospital, as well as $885 million in rail line upgrades.

“The Budget also looks to the future with planning money fast tracked for the North East Link road, as well as planning continuing for Melbourne Airport Rail Link.

“None of these projects would have been possible without the hard reform work of successive Victorian governments, and their commitment to repair the budget through asset recycling,” Mr Dwyer said.

Infrastructure Partnerships Australia is the nation’s peak industry body providing independent policy research focused on excellence in social and economic infrastructure.

 

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Source:  Infrastructure Partnership Australia - www.infrastructure.org.au

Contact:  Media contact: Mitch Dudley 0430 003 137; Michael Player 0424 698 189

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Recent news by:  Infrastructure Partnership Australia

 

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