Over the next twelve months the Federal Labor Government’s ambitious capital works program will continue unabated, with the 2012-13 Budget delivering a further instalment of $21.4 million in funding to start, progress and complete a range of projects in the Australia Capital Territory.
All up, we are providing an unprecedented $251.6 million from our six-year Nation Building Program (2008-09 to 2013-14) to rebuild and renew the Territory’s road infrastructure. Already, Federal Labor has almost doubled annual infrastructure spending per local resident from $72 to $114.
As a result of this record funding, the new Majura Parkway will go from the
drawing board to construction in the coming financial year (Federal contribution: $144.0 million).
At the other end of the construction cycle, we expect to complete work on the duplication of the Monaro Highway between Canberra Avenue and Newcastle Street by the end of June next year (Federal contribution: $18.5 million).
The 2012-13 Budget also maintains funding for a range of initiatives designed to make our local roads better and safer including:
- $1.0 million to eliminate dangerous black spots on local roads;
- $20.0 million to assist the ACT Government to maintain and upgrade their local roads
From the outset Federal Labor’s mission has been to reverse the neglect we inherited and invest in the modern, well-planned infrastructure that will make working people’s lives easier, our businesses more competitive and the national economy stronger, not just for the next five years but for the next five decades.
Across the Territory that’s precisely what we are doing. Federal Labor is setting the Territory up for the future with good infrastructure which will stand the test of time.