The Albanese Labor Government is continuing to responsibly invest in and deliver nationally significant, nation-shaping projects for Australia.
Our investments in infrastructure, strategic transport and net zero will set up our nation and people for a more prosperous and sustainable future.
These decisions will drive productivity, boost economic growth, create job opportunities and help to tackle cost of living pressures.
They also improve and save lives, ensure that Australia is well placed to compete in the new, net zero economy, revitalise regions and support communities in cities, suburbs and regions.
Building Australia
The Albanese Government's reforms to the Infrastructure Investment Program, to make it more sustainable, mean we can invest in new projects around the nation.
This Budget provides $16.5 billion for new and existing projects across Australia over ten years to improve productivity, liveability, and sustainability.
Guided by the priorities of productivity and resilience, liveability and sustainability, we are investing $4.6 billion in 69 new projects, including:
- $1.9 billion for Western Sydney road and rail infrastructure.
- $300 million for METRONET to deliver a capacity signalling program in Western Australia.
- $177 million to deliver bridge and intersection upgrades along the Warrego Highway in Queensland.
- $80 million to upgrade the Lyell Highway between Granton and New Norfolk in Tasmania.
- $120 million for the Princes Highway to deliver interchange upgrades at Mount Barker and Verdun in South Australia.
- $50 million to plan for Stage 2B of the Canberra Light Rail.
- $12 million for the Bridgewater Road and Portland Ring Road intersection upgrade in Victoria.
This also includes $540 million to improve the reliability of the Australian Rail Track Corporation's interstate freight rail network, including $150 million to upgrade the Maroona to Portland Line in Victoria.
We are also investing $10.1 billion to ensure current projects can be delivered across the nation, including an additional:
- $3.25 billion for North East Link in Victoria.
- $1.4 billion for METRONET projects in Western Australia.
- $1.15 billion towards the Direct Sunshine Coast Rail Line in Queensland.
- $50 million to ensure the delivery of the existing Appin Road project in New South Wales.
- $27.1 million to deliver the duplication of William Hovell Drive in the ACT.
As part of the Government's investment in new projects, $158 million is being committed to deliver critical planning for nationally significant projects under the Major Projects Business Case Fund.
Australians can be confident these projects will be delivered because of the reforms that have already been implemented.
To support the enabling infrastructure needed to drive greater housing supply, this Budget also makes available $1 billion in 2023-24 for states and territories to deliver enabling infrastructure through the Housing Support Program - Priority Works Stream. This investment expands the $500 million already committed through the Housing Support Program.
We are also ensuring Australia's elite athletes have access to the facilities they need to go for gold at the 2032 Brisbane Olympic and Paralympic Games by revitalising the Australian Institute of Sport.
We are investing in $249.7 million the AIS to deliver:
- An accessible multi-story accommodation facility.
- A multi sports dome to provide an all-weather, indoor training facility supporting track, field and a range of team sports, with integrated facilities for testing and analysis.
- A new High-Performance Training and Testing Centre.
Funding will be held in the Contingency Reserve while a detailed business plan for the AIS site redevelopment is finalised.
A further $10 million will fund a Bruce Precinct Master Plan to identify optimal land uses within the precinct, complementing an AIS Master Plan to be developed by the Minister for Sport and the ASC.
The Government remains committed to maintaining appropriate infrastructure in the Territories, with $22.5 million provided to maintain and repair critical assets and plan for future projects across the Indian Ocean Territories, Jervis Bay Territory and Norfolk Island.
Net zero
Following extensive consultation, legislation for the New Vehicle Efficiency Standard for light vehicles was introduced to Parliament in March. This ground-breaking reform will ensure Australian motorists are able to save money at the bowser and choose from a wider range of more fuel efficient, modern vehicles that are cheaper to run.
The Government will provide $84.5 million over five years to help establish the scheme, a regulator and facilitate credit trading between manufacturers.
As part of our Future Made in Australia plan, we will fast-track support for a low-carbon liquid fuel industry, with an initial focus on sustainable aviation fuel and renewable diesel to support emissions reduction in the aviation, heavy vehicle, rail and maritime sectors.
This investment will help move our transport sector towards net zero and create new jobs and industry across Australia, and includes:
- $18.5 million over four years from 2024-25 to develop a certification scheme for low-carbon liquid fuels, including Sustainable Aviation Fuels and renewable diesel, in the transport sector by expanding the Guarantee of Origin scheme.
- $1.5 million over two years from 2024-25 to undertake a regulatory impact analysis of the costs and benefits of introducing mandates or other demand-side measures for low carbon liquid fuels.
- Investing $1.7 billion over the next decade in the Future Made in Australia Innovation Fund, to support the Australian Renewable Energy Agency to commercialise net zero innovations including low-carbon liquid fuels.
- The Government will be undertaking targeted consultation to identify options for production incentives to support the establishment of a made in Australia low carbon liquid fuel industry.
Strategic transport capability
The Albanese Government's election commitment for an Australian-flagged and crewed maritime strategic fleet has been advanced in this Budget.
The strategic fleet will be established through a pilot program with three vessels. Applications to participate in the pilot will open later this year with the first vessels expected to be operational as quickly as possible. The strategic fleet will provide Australia with additional capability to respond to disasters and disruption.
The Remote Airstrip Upgrade Program will be extended with an additional $50 million over three years, to improve safety of remote airstrips and accessibility for people with disability.
The Regional Airports Program will be extended with an additional $40 million in competitive grant funding over three years from 2024-25.
The Government will also provide $500,000 in funding per year to the Remote Aerodrome Inspection Programme, to provide critical inspection services to ensure safety of remote airport operations. The program supports First Nations community aerodromes safety, and allows the Royal Flying Doctor Service and others to safely land in remote communities.
We have heard through the Aviation White Paper process just how important these programs are to regional and remote communities and that is why we are announcing additional investments now.
To further enhance aviation safety, we will provide $3.6 million over three years from 2024-25 to extend and expand the Automatic Dependent Surveillance Broadcast (ADS-B) rebate program, supporting general and recreational aviation operators to install ADS-B devices in their aircraft, bringing about improved airspace management and safety.
We will have more reforms to aviation to announce when the White Paper process concludes later this year.
The Government is also providing $3.9 million in 2024-25 to support the ongoing safety investigative functions of the Australian Transport Safety Bureau.
Increasing road safety and productivity
The Albanese Government is committed to increasing road safety and productivity.
Funding has increased substantially for the Roads to Recovery Program, progressively rising from $500 million to $1 billion per year and funding under the Black Spot Program will increase from the current commitment of $110 million to $150 million per year.
To ease the administrative burden on applicants, we have merged the Heavy Vehicle Safety and Productivity Program and the Bridges Renewal Program into a new Safer Local Roads and Infrastructure Program with at least $200 million available each year.
Road safety is a collective responsibility and driver education is an important part of this.
We are providing $10.8 million in 2024-25 for a one-year National Road Safety Education and awareness campaign, and $21.2 million over six years from 2024-25 to improve the reporting of national road safety data via the National Road Safety Data Hub.
This Data Hub will ensure vital and more harmonised road-safety data can be used effectively by everyone, including decision makers in all states and territories.
We will invest $100 million in a new Active Transport Fund open to states and territories which will ensure people who want to walk and cycle in their local community can do so safely, funding new and upgraded bicycle and walking paths across the country.
We're getting on with the job of delivering a better future for all Australians - helping build economic opportunity and thriving communities.
