A new $1.5 billion Australian Government infrastructure package will provide an injection into the economy and bring jobs back online to help stem the impact of COVID-19. Getting shovels in the ground on local construction projects was important for maintaining jobs and economic growth in the South West.
These types of infrastructure projects will be also particularly crucial for helping us bounce back after the COVID-19 crisis has ended by ensuring we have the safe transport connections needed for all Australians to keep moving.
This funding will deliver critical infrastructure projects right across the country to help keep construction businesses running and people in jobs.
$1 billion of this package will fund projects that can get underway now and over the next six months, to give an immediate boost to the economy and local jobs – right at the time we need it.
The package also includes a $500 million Targeted Road Safety Works initiative for states and territories to deliver smaller but critical projects to improve road safety and bolster the resilience of our local road networks.
The Government will work together with the states and territories to deliver these job-creating priority projects, building on our unprecedented cooperation to date through the National Cabinet of States and Territories.
That builds on around $7.8bn worth of projects we’ve brought forward since November last year. The result being we will have brought forward or provided additional funding of $9.3 billion in infrastructure investment in just the past eight months.
A priority list of 15 major projects that are on the fast-track for approval under a bilateral model between the Commonwealth, states and territories – supporting around 66,000 jobs.
To build the pipeline of future projects, we are determined to get out of the way and speed up progress by improving approvals processes. These jobs will be brought to market earlier by targeting a 50 per cent reduction in Commonwealth assessment and approval times for major projects, from an average of 3.5 years to 21 months.
Further announcements on specific projects will be made soon.