The Government is continuing its ambitious infrastructure program to further its nation building agenda.
Critical infrastructure for regional Australia
The Government is providing $500 million over ten years through the Nation Building Program towards a package of works to upgrade the Midland Highway in Tasmania.
The Government is spending $4.1 billion on the Bruce Highway over the ten years from 2012‑13. This brings the Government's total commitment to the Bruce Highway to $5.7 billion since 2008.
The additional funding will improve road safety and enhance flood resilience on this key freight corridor, which supports Queensland's growth and development.
Other key projects include upgrades to the Warrego Highway in Queensland and the Perth to Darwin National Highway (Swan Valley Bypass) in Western Australia.
Building for the future with the private sector
The measures in this Budget demonstrate the Government's commitment to nation building infrastructure. The Government is also looking at how to encourage greater private sector involvement.
The F3 to M2 project is a good example of how we are working constructively with the private sector to deliver nationally significant infrastructure projects.
In line with the Government's Infrastructure Finance Working Group Report, a new advisory function will be established within the Treasury to provide guidance on the most appropriate financing structures to bring large, complex infrastructure projects to market.
This builds on the Government's commitment in the last budget to develop the Moorebank Intermodal Terminal in conjunction with the private sector.