Australia’s federal government has allocated funding for key transport projects and initiatives aimed at enhancing productivity, safety, and sustainability in the transport sector in its 2024-25 Federal Budget.
The budget, announced by the Hon. Catherine King, Minister for Infrastructure, Transport, Regional Development and Local Government, includes several significant allocations:
- Major Projects Business Case Fund: An additional $200 million has been allocated to support the development of business cases for strategically significant transport projects. This funding is intended to promote earlier engagement in project planning, ensuring that projects are well-prepared and aligned with national priorities.
- Road Safety Program: A total of $976.7 million over 2023-24 and 2024-25 has been allocated for the Road Safety Program. This program aims to expedite the rollout of life-saving road safety treatments on rural and regional roads, supporting the government’s commitment to delivering on the National Road Safety Strategy 2021-2030.
- National Electric Vehicle Strategy: Funding has been allocated to support the implementation of the recently announced National Electric Vehicle Strategy. This includes the development of a Fuel Efficiency Standard for Australia, reflecting the government’s focus on the energy transition and sustainable transport solutions.
While the budget did not provide details of significant new transport infrastructure investments, the government has signalled its commitment to strengthening Australia’s $120 billion infrastructure pipeline.
An independent review of major projects is currently underway, and the government is expected to announce further infrastructure investments in the future.
Roads Australia has welcomed the confirmation of new investment in transport projects in every state and territory in the upcoming budget, along with additional funding for road safety initiatives.
Roads Australia CEO Ehssan Veiszadeh emphasised the importance of certainty over the infrastructure pipeline, stating that it allows the industry to respond to demand and deliver projects that benefit connectivity, liveability, and safety for the community.
In addition, Minister King announced $21 million for enhancements to the National Road Safety Data Hub, supporting efforts to reduce road trauma.
Roads Australia Chair Aneetha de Silva highlighted the critical role of the transport sector in Australia’s success, highlighting the importance of public infrastructure as a catalyst for economic growth and development.
The 2024-25 Federal Budget reflects the government’s commitment to investing in transport projects and road safety initiatives that will benefit communities across Australia, supporting economic growth, safety, and sustainability in the transport sector.