The indexation of fuel excise is being spent on a wide array of infrastructure projects.
New investments include:
- $1 billion for East-West Link Stage 2 in Melbourne, which combines with a further $500 million being provided for the project from existing Infrastructure Investment Programme funding, for a total $1.5 billion investment to 2018/2019;
- $866 million for the Perth Freight Link in Western Australia, taking the total Federal investment in the project to $925 million;
- The Toowoomba Second Range Crossing in Queensland;
- The North-South Road Corridor in Adelaide;
- Northern Territory road upgrades;
- $229 million for a National Highway Upgrade Programme;
- Additional funding of $200 million for the Black Spot Programme; and
- Additional funding of $350 million for the Roads to Recovery Programme.
Other investments include:
National Rental Affordability Scheme to be discontinued
- $2bn loan to speed up Stage 2 of the WestConnex project in Sydney
- $2.9bn over 10 years towards roads on the Western Sydney infrastructure plan
- $77.8m to establish a Western Sydney Infrastructure unit to manage the development of the second airport at Badgery's Creek.
The Government will not proceed with Round 5 of the National Rental Affordability Scheme. Funding for tenanted NRAS properties will not be affected.
Insurance support in North Queensland
The Government has provided $12.5m over 3 years to the Queensland Government to provide grants to bodies corporate to undertake engineering assessments of strata-title properties in North Queensland. The assessments are to identify risks that can be mitigated.
There is also a website being established by the Department of Treasury to develop an insurance comparison website on strata-title and home building and contents insurance offerings in North Queensland.