The Australian Government is taking significant steps to create a sound future for the country; one year after announcing the $50 billion investment in world-class infrastructure, there are a flurry of projects breaking the ground. James Briggs, Assistant Minister for Infrastructure and Regional Development stated, “The 2015 Budget is part of the Commonwealth Government’s plan to build a strong, safe and prosperous future for all Australians.” Major transportation landmarks such as the Pacific Highway and the Bruce Highway are being upgraded, ensuring Australia’s freight industry operates more efficiently whilst helping to open up new trade opportunities for businesses; key government aims.
Briggs continued, “Our record infrastructure investment is helping to create tens of thousands of jobs, eliminate congestion in our cities, increase the economic capacity of our freight routes and improve safety for all road users.” With “game-changing” billion dollar construction projects currently under way, the Government appears to be on track with its plans. There are a number of 2015-16 developments in progress, particularly in the New South Wales (NSW) region, such as the previously discussed $5.6 billion Pacific Highway Duplication, WestConnex $1.5 billion New M5 section and the $2.9 billion Western Sydney Infrastructure plan; just three projects that make up part of the large portfolio of activity within the region.
The Government is not only looking at the development of the country, it is also analysing the effects that said infrastructure improvements will have within the family home. “Cities will help cut fuel costs and reduce travel times for commuters so they can spend more time being productive at work or at home with their families” (Briggs). What’s more, taxpayers will not suffer the financial hit; substantial funding is being provided through schemes such as the Roads to Recovery Programme, which supports the construction and maintenance of local roads. From 2014-2019 “The Government will provide $2.1 billion under the Roads to Recovery programme.” Department of Infrastructure and Regional Development. Over 2,300 projects have already been allocated to the programme.
With such large budgets in place, a large number of jobs will be created within planning, construction, operations and maintenance, and will no doubt lower Australia’s unemployment figure, 6.1% as of April 2015 (Australian Bureau of Statistics). Fiona Benson, Property Council of Australia highlighted “The 2015-16 Federal Budget confirms that unlocking further growth in the property and construction industries is the only way the Government can hit its economic growth targets and fill the hole left by mining.” Fiona stated that property is the “star performer” in stimulating growth and activity within non-mining sectors, and highlighted the impact of Australia’s growth on the country’s economic outlook.
Oliver Kinross is thrilled to be bringing together many of Sydney’s key decision makers taking a leading role in the future of Sydney and NSW at their new construction event, Sydney Build Expo 2016. The two day event will feature a large exhibition and high level conference along with a number of complimentary CPD accredited training workshops. The event will take place in Sydney on the 10th & 11th of March, 2016 and is currently free to attend. Register online at syndyebuidexpo.com.