Federal government announces $9.6 billion cash boost for roads and rail

The federal government has denied splashing cash by announcing a $9.6 billion cash boost to road and rail projects across Australia.

In what Chancellor Katie Gallagher called a “significant investment in infrastructure,” Victoria got the most money, at more than $2.5 billion.

The Northern Territory at $2.5 billion, Queensland at $1.47 billion and New South Wales at $1 billion follow.

Finance Minister Katie Gallagher has announced a cash boost. (Alex Elinghausen/Sydney Morning Herald)

This includes $800 million for high-speed rail and roads in Western Sydney.

Tasmania, Western Australia and South Australia each have about $700 million.

New South Wales Treasury Secretary Matt Keene has accused the federal government of shortening his state.

“It’s no coincidence that Queensland and Victoria (both labor states) get much more money than the mainland’s only liberal states,” he said.

“It was NSW that carried the country during COVID. It was NSW that accounted for the majority of international arrivals, but they are being duped again by the Commonwealth, much like their GST income.”

Inflation has soared since the last election, but his government insists this is not a cash splash, and that most of the money will be reorganized.

Treasury Secretary Jim Chalmers said, “We are not spending money because it is counterproductive on the inflation agenda.”

Gallagher said the additional spending was “modest.”

“I am confident that it will not contribute to inflation,” he said.

Economists said it all depends on when work begins.

“If these projects are not timed correctly, they will put further pressure on the economy,” said Brendan Lin, chief economist at KPMG.

As for who can get a job in the already stretched construction industry, Rynne said workers who build homes will continue to be lured into infrastructure projects because they often pay more.

The finance minister has suggested that some of the Coalition’s infrastructure projects may eventually run into trouble, and is eyeing a regional deal between the Liberal Party and the National Party. Confirming.

Federal government announces $9.6 billion cash boost for roads and rail

Source link Federal government announces $9.6 billion cash boost for roads and rail

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