A boost to Infrastructure

The Federal Budget’s allocation of $75 billion towards construction and infrastructure has been welcomed by many Australian builders, developers, and construction companies.

With the aim to improve connectivity, productivity and liveability throughout Australia’s cities and regional areas, the Australian Government is delivering a commitment of $75 billion in infrastructure funding and financing from 2017–18 to 2026–27 for critical airport, road and rail infrastructure projects.

 

This means major projects such as “Snowy Hydro”, “Inland Rail” and “Western Sydney Airport” will be executed in the years to come. In Victoria, an additional $30 million will be provided to fund the development of the “Melbourne Airport Rail Link”, as well as an additional $20 million for the “Murray Basin Rail”. According to the Federal Government, a further $460 million is available for Victorian infrastructure projects, to be later negotiated between State and Federal Government bodies.

The Federal Government has also stated it will “fully deliver” on the $8.4 billion Melbourne to Brisbane “Inland Rail” project. In recent media releases, Melina Morrison, the Business Council of Co-operatives and Mutuals CEO claimed “the Budget would provide exciting opportunities for regionally based and community-owned infrastructure projects”.

A welcomed long term growth model for Australia, that will provide major opportunities for our customers and all businesses involved in Building and Construction.

For more information on trends regarding the Building and Construction industry click on http://steelefficiencyreview.com.au/sectors/building-construction/ and feel free to contact your local SER® representative.

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