Victoria’s peak transport body says the state has fared well in the overall infrastructure spending announced in this week’s federal budget.
Victorian Transport Association CEO Peter Anderson calculates that Victoria has been allotted 30 per cent of the federal funding for infrastructure in the 2024/25 budget.
The funding was outlined in a $120 billion, 10-year road, rail and other transport infrastructure pipeline delivered by Treasurer Jim Chalmers on Tuesday.
“In the Victorian infrastructure spending allocations, significant investments have been earmarked for various key projects aimed at enhancing transportation, connectivity, and public amenities across the state,” Anderson said.
“Significant funding has been provided to the North East Link with $3.3 billion allocated to this transformative project. We applaud federal commitment to enhancing connectivity and unlocking economic potential – by seamlessly linking the Eastern Freeway to the M80 Ring Road, this project will significantly reduce travel times, enhance freight efficiency, and alleviate pressure on existing arterial route.”
The allocations prioritise upgrading roads, bridges, and public transport networks to alleviate congestion, improve safety, and facilitate smoother movement of goods and people.
Key Victorian and national commitments include:
• $3.3 billion for the North East Link
• $1.7 billion for METRONET
• $1.2 billion for the Direct Sunshine Coast Rail Line
• $467.2 million for the Bruce Highway Corridor
• $437.3 million for road upgrades in south eastern and northern Melbourne
• $400 million to upgrade sections of Elizabeth Drive in New South Wales
• $200 million for the Safer Local Roads and Infrastructure Program
“In alignment with broader national objectives, the Victorian infrastructure spending allocations also prioritise initiatives aimed at fostering economic growth, creating job opportunities, and enhancing the overall quality of life for residents,” Anderson added.
“Overall, the federal budget underscores a commitment to investing in Victorian infrastructure to support the state’s long-term development, competitiveness, and prosperity.”