Infrastructure sector think tank Infrastructure Partnerships Australia is delighted with Victoria’s latest state budget, praising a $12.7 billion increase in infrastructure funding.
IPA chief executive Adrian Dwyer this week said state treasurer Tim Pallas had delivered a “stellar” infrastructure budget, despite domestic headwinds and a downward revision to the state’s stamp duty revenue.
“This is an impressive infrastructure budget, made even more remarkable because it’s delivered in the face of global challenges and a considerable write down in revenue,” Dwyer said.
“The Andrews Government is making critical investments in infrastructure across the state, including $6.6 billion for additional level crossing removals.
“Victoria has been able to release the fiscal gates on infrastructure funding precisely because it has rehabilitated the budget, kept costs under control, and borrowed sensibly. With the global economy slowing down and inflation still persistently low, infrastructure investment will be key to driving demand in the difficult years ahead.”
Along with the additional level crossing removal funding, Monday’s state budget set aside $615 million for regional public transport deliveries, including $340 million to purchase up to 18 new three-car V/Line VLocity trains, which the government said would bring good news for manufacturing and supply jobs in Dandenong, which hosts Bombardier’s plant where the trains are built.
Three new stations will also be built at Goornong, Raywood and Huntly in the Bendigo area for a combined cost of $49.6 million and $150 million will be provided to fund new car parks at some of the busier stations in Melbourne and regional Victoria through the Car Parks for Commuters Fund
Following on from promises made before the state election in March, Labor will build 11,000 new spaces at stations across the state, bumping the current total number of spaces by 20 per cent to 66,000 stations in order to help relieve pressure along the lines.
$111 million was announced for training, recruitment and upskilling of train drivers in preparation for the new trains and services.
Additionally, an incentive scheme designed to reduce truck numbers on local roads by shifting more freight to rail will also be extended with an $8 million investment. “We promised to get trucks off local streets and that’s exactly what we’re doing,” minister for public transport, ports and freight Melissa Horne said.