Michael McCormack (Riverina, National Party, Leader of the Nationals) Share this | Hansard source

It's a great pleasure to speak on the appropriations bills which form this year's budget, a budget which is delivering the vital infrastructure Australians need, want, demand, expect and deserve; a budget building the road and rail required to get families home sooner and safer; a budget investing in congestion-busting projects and productivity improvements which boost local economies and create local jobs. For the information of the House, I propose that during the debate today ministers will hear a number of questions from members on both sides of the chamber before responding to questions, to ensure that interested members can participate in the debate. I also acknowledge my colleagues, the Minister for Regional Development, the Minister for Urban Infrastructure and Cities, and the Assistant Minister to the Deputy Prime Minister, and the fine job they are doing in delivering the government's infrastructure agenda.

First, I want to outline how our budget backs the long-term infrastructure needs and priorities of communities around Australia through our decade-long infrastructure pipeline of investment. The Liberals and Nationals have, again, demonstrated that our government has a long-term plan for land transport infrastructure, evidenced by our record investment. We're getting on with the job of delivering the major infrastructure needed to bust congestion, drive productivity, remain globally competitive across all sectors, and help create jobs and economic growth in urban and regional areas to sustain Australia's strong economic position. In the 2018-19 budget, the government has committed $75 billion over 10 years to upgrade and build infrastructure across the nation, building our future.

To address a common misconception, let me be quite clear: infrastructure investment is not falling over the forward estimates. In fact, we're investing more than $8 billion every year within the budget forward estimates. Where it is appropriate, we're delivering a proportion of our infrastructure commitment through financing and equity mechanisms, which helps ensure the taxpayer gets a better deal. Grant funding is not the only or always the best way to support the delivery of major infrastructure. Our $5.3 billion equity injection towards the new Western Sydney Airport and our $9 billion equity injection to deliver the inland rail clearly demonstrates they are equally valid alternatives to grant funding. We know Australians just want us to get on with the job and build the infrastructure Australia needs.

Our 10-year commitment will bust congestion in metropolitan areas, move freight efficiently to our ports and markets, better connect our regions to vital services and create more jobs across the country, getting that produce from farm gate to port to markets. At its heart is a pipeline which will benefit each and every state and territory with funding for more than 40 priority projects and three new major initiatives. Through the pipeline, the government has also demonstrated its leadership in the identification of infrastructure priorities. We will actively engage with state and territory governments and the private sector to determine the optimal timing, delivery models and funding structures to achieve value for money for taxpayers and a proper sequencing of delivery, which is possible thanks to our longer-term pipeline approach. I'm delighted that the Victorian and New South Wales governments have already come on board and signed intergovernmental agreements for the inland rail. It's critical to ensure the market does not overheat and drive up delivery costs and, where projects can start earlier, of course, we will realign our funding. We want those projects delivered as soon as possible.

As we're all aware, major infrastructure projects require detailed planning and development, and must include broad consultation with communities being affected. They need careful consideration of environmental and heritage issues—so you can't just announce a project one day and put shovels in the ground the next. The pipeline will see substantial investment in urban and regional road projects and deliver vital investments in strategic freight corridors across regional and country and coastal Australia. It will also include investment in urban rail initiatives which will transform the way people commute across their cities for work and leisure. These projects have been prioritised based on their capacity to drive Australia's economic growth and unlock the potential of our cities and indeed our regions. Key projects include the $5 billion Melbourne Airport rail link; Metronet in Perth; the Beerburrum to Nambour rail upgrade in south-east Queensland, with $390 million going towards that vital project; the Coffs Harbour bypass on the Pacific Highway, with $971 million for that project; and the North-South Corridor in Adelaide.

A key budget announcement is the $3½ billion Roads of Strategic Importance initiative to support the regional freight industry, improve safety and grow the visitor economy. It was a budget for infrastructure—a very good budget indeed.

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