Jul 12, 2017

Coalition’s $3 billion Victorian infrastructure rip-off continues

The Turnbull Government will deny Victorians $3 billion in infrastructure funding over the next four years by investing only 12 per cent of its budget in a state that is home to a quarter of the national population.

Four years after it took office and cancelled billions of dollars of investment for important projects like the Melbourne Metro, the Turnbull Government continues to rip off Victorians while pretending otherwise.

New calculations by the Opposition show that even accounting for the recent Commonwealth investment into regional rail services from its Asset Recycling Fund, Victoria will receive $2.7 billion in Commonwealth infrastructure investment over the next four years.

That represents 12 per cent of the national infrastructure budget.

Victorians pay their taxes.

They deserve a fairer share of nation building investment to keep pace with population growth and underpin economic and jobs growth.

However, for four years the Federal Coalition has refused to back Victoria on infrastructure investment, despite its critical importance to the state’s economic development.

During its period in office the former Labor Government invested $201 a year on infrastructure per Victorian, delivering productivity enhancing projects like the Regional Rail Link and Stage I of the M80 upgrade.

But 2017 Budget forward estimates show that by 2020-21, Canberra will spend only $46 a year on infrastructure per Victorian.

No wonder the peak infrastructure industry group Infrastructure Partnerships Australia rejected the recent 2017 Budget, calculating it would drive infrastructure investment in this country to its lowest level in a decade.