Community takes fight for rail to the Supreme Court
Rail corridor between Glenfield and Macarthur earmarked for medium density
Rail Trail boost to tourism - and local economy
Newcastle rail case may be long wait
Save Our Rail questions semantics argument over rail line cut
North West Rail Link corridor to extend through to Marsden Park
Camurra West to Weemelah Line Booked Out of Use
Rail Trail full steam ahead
John Holland Commissions Electronic Train Orders
Closure of Newcastle rail stations not technically a closure of whole line, State Government lawyer says
The Federal Government is being urged to spend up big in next week's Budget on nation-building projects large and small to create jobs quickly and lift Australia out of recession.
The New South Wales Government's massive City and Southwest Metro rail project will ultimately add another 66 kilometres to Sydney's rail network and 31 more stations.
Tunnelling for the line — which connects Sydney's north, under the harbour, to the CBD and then passes through the inner-south on its way to the existing Bankstown line — was finished earlier this year.
The NSW Government has said the project is ultimately expected to cost $11.5-12.5 billion, making it the largest public transport project currently underway in Australia.
It is the kind of large-scale infrastructure project the Federal Government is under pressure to fast track or announce in next week's Budget.
The City and Southwest Metro project is due for completion and opening by 2024.(ABC News: Rachel Pupazzoni)Last year the Morrison Government revealed its $100 billion infrastructure fund to be rolled out over the next decade.
Back then, it had its eye on bringing the Budget "back in black".
COVID-19 has laid those surplus aspirations to rest and the focus now is on job creation and pulling Australia out of its sharpest recession since the Great Depression.
Many are expecting Treasurer Josh Frydenberg to announce a massive upgrade to infrastructure spending next week, including the Reserve Bank of Australia.
RBA FOI reveals infrastructure 'scepticism'Secret internal documents obtained through Freedom of Information (FOI) reveal internal discussion that disparages the low amount of money the Commonwealth and state governments are spending on job-creating projects such as tunnels, roads, bridges and buildings.
"The spending announced to date adds a relatively small amount to the pipeline of public infrastructure work yet-to-be done," economist Matthew Larkin wrote in an internal RBA report.
The Martin Place metro rail station is being built 27 metres underground.(ABC News: Rachel Pupazzoni)After the COVID-19 outbreak, the federal and state governments announced about $3 billion in infrastructure investment in three categories: 'shovel ready', road safety and local roads.
The Federal Government's contribution included money already announced in last year's $100 billion spending list.
The aim has been to fund projects to "commence quickly, support jobs and stimulate the economy," wrote Mr Larkin, with money spent in 2020 and next year.
Every month the Reserve Bank meets about 80 contacts called 'liaisons' in different industries to find out how the economy is really travelling.
Mr Larkin wrote that many of them questioned the so-called "new projects" saying they were simply re-announcements of earlier mooted deals.
"While the three programs represent an intention to support infrastructure activity in the near term," Mr Larkin wrote in a report titled Shovel Ready, Set, Go?, "liaison contacts and industry experts are sceptical that shovel ready projects are as new as governments and the media have portrayed them."
Digging our way outThe Federal Government has already started drip feeding its new spending list ahead of the Budget on Tuesday.
Last week, Communications Minister Paul Fletcher announced a $3.5 billion upgrade to the National Broadband Network.
The upgrade expands the Fibre-to-the-Node (FTTN) system, enabling another 6 million customers, should they choose, to connect to higher speed internet. It also aims to dramatically improve maximum speeds for those on the HFC network.
The Government says it will create or maintain 25,000 jobs during the next two years.
It is the kind of work Deloitte Access Economics Partner Nicki Hutley wants to see more of.
Nicki Hutley says increasing spending on social housing will create more local jobs and assist people in need of a place to live.(ABC News: Grant Wignall)"It would be incredibly welcome, incredibly meaningful, it will lift productivity and it will create jobs," she told The Business.
"It's not clear to me, though, how much of that will be paid for by the Government and how much by households themselves.
This article first appeared on www.abc.net.au
About this website
Railpage version 3.10.0.0037
All logos and trademarks in this site are property of their respective owner. The comments are property of their posters, all the rest is © 2003-2020 Interactive Omnimedia Pty Ltd.
You can syndicate our news using one of the RSS feeds.