While there are winners and losers in all Federal Budgets, Queensland has secured some much-needed federal funding to support infrastructure investment and economic growth, with a number of key projects benefitting from governmental support.
“It was pleasing to see a number of projects receive positive investment,” said QMCA CEO Andrew Chapman. “Funding has been committed for key Olympic projects, Sunshine Coast rail and Gold Coast fast rail received $1.6 billion and $1.1 billion respectively, and although some defence projects were deferred or removed, funds have been committed to base upgrades in North Queensland.”
“$2 billion was committed to the development of the hydrogen sector in Gladstone, and the Lake Borumba Pumped Hydro Project received an unspecified amount of funding to support its development, which is encouraging.”
“While we welcome the measures announced, industry is keenly observing the current Infrastructure review, which may have serious ramifications for project funding across the state. The predicted growth in Queensland’s population and the state’s commitment to hosting the Olympic and Paralympic Games will place pressure on Queensland’s existing civil infrastructure, and cuts to key projects will risk the state’s economic growth and ability to accommodate migrants and visitors at a time when the world’s attention is focussed on Queensland.”
“As a state, we need funding to be accelerating now so that the state and local governments across Queensland can undertake the major programs of work needed to increase the capacity of our roads, rail and public transport infrastructure and hasten our energy transition in line with public expectations and key political commitments.” “As infrastructure investment is reviewed, we reiterate our belief that Queensland must not bear the brunt of any attempts to scale back infrastructure investment. If anything, the opposite is true, as the state’s economic future is reliant on ensuring that we have the ability to support our growth in population and the opportunities to modernise our transport networks offered by hosting one of the globe’s flagship events.”
