Qld Budget 2022: $59b for no new Qld infrastructure projects
While billions will be spent on existing transport and rail infrastructure projects to keep pace with the state’s population growth, this year’s budget lacks any major new projects.
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Billions of dollars will be spent on existing transport and rail infrastructure projects to keep pace with the state’s population growth, but the budget lacks any major new projects.
Queensland Treasurer Cameron Dick has allocated $59.1bn over four years for an infrastructure investment program he says will improve the state’s production capacity and create jobs.
This year $15.5bn will be spent to upgrade schools, hospitals and roads in a program Mr Dick said would support 48,000 jobs.
At the centre of the investment is a $7.30bn investment in transport infrastructure, which includes $1.29bn to continue Cross River Rail, $270m to start stage three of the Gold Coast Light Rail and the rail network through the Logan and Gold Coast Faster Rail project
Queensland Rail will receive $358m to replace, renew and upgrade rail infrastructure, rollingstock and facilities – with $142m spent on the southeast Queensland network and $168m for the regional network.
The budget includes also investment in previously announced projects on the Bruce Highway including the $1bn Cooroy to Curra upgrade, $662.5m to widen the highway to six lanes between Caboolture-Bribie Island Rd and Steve Irwin Way and $500m for upgrades between Mackay and Proserpine and Gladstone and Rockhampton.
However, there is little money for new transport infrastructure projects, with the government’s mooted $3.5bn rail revolution program to be rolled out over four years.
Mr Dick insisted the infrastructure spend would maintain Queensland’s lifestyle and keep pace with population growth.
“We’re building the infrastructure that keeps Queensland the best state in the nation,” he said.
RACQ Head of Public Policy Susan Furze welcomed the investment in road and transport infrastructure, but was “disappointed” funding to duplicate the Centenary Highway bridge was delayed again.
“The Centenary Highway is the most congested highway in the southeast in peak times so RACQ has been calling for action to be brought forward when it comes to upgrading this section of road,” she said.
About $112.5m in grants will also be provided to eligible homeowners to repair, retrofit or raise their homes to incorporate flood resilient design and materials.
Queensland Treasury notes this year’s floods would cost the state about $1bn, or one quarter of Gross State Product, and exacerbate inflation within the construction sector by “driving demand for already scarce materials and labour”.
About 4355 buildings suffered moderate or severe damage during the February and March floods.
However, the overall economic effects would be “relatively limited” compared to previous major natural disasters, with key industries including mining and agriculture largely unaffected by the flooding.
It noted the cost would be partially offset by Commonwealth funding.
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