Budget building up Australia's infrastructure
Wednesday June 21, 2017
Anyone who's spent hours sitting in gridlocked traffic or tried unsuccessfully to navigate a poor rail system will understand the value good infrastructure. While the construction industry is the driving force behind any improvement to Australia's infrastructure, it can only do so much without vital government investment and support.
This is where the latest Federal Budget really shines. Significant allocations to support key projects are likely to not only give the construction sector the leg up it needs, but deliver new opportunities for infrastructure recruitment, not to mention overall economic growth.
The government has prioritised infrastructure in the latest Federal Budget.
Government getting infrastructure construction in line for growth
Like any industry, construction ebbs and flows in cycles, with different parts of the sector thriving in their own time. After the recent surge in residential construction, infrastructure could be the next area of growth as the government gears up to invest significant funding through the 2017-2018 Federal Budget.
"The Federal Budget clearly has put infrastructure spending as a key priority," noted Australian Construction Industry Forum's Construction Forecasting Council Chair Adrian Harrington.
This is good news not just for the industry itself, but Australia as a whole, with infrastructure developments forming a key component of general economic prosperity.
"The Federal Government recognises that quality infrastructure is critical to ensure our cities and regions continue to grow and the significant role the construction sector plays in driving employment and productivity growth," explained Mr Harrington.
In his 2017 Federal Budget Speech, Treasurer Scott Morrison announced that the government will commit $75 billion to infrastructure with the next decade. He highlights the need to target these investments to promote growth across Australia.Budget to provide support for infrastructure
"It is important to invest in infrastructure, but we have to make the right choices on projects, as part of a broader economic growth strategy," he said. "Our new Infrastructure and Projects Financing Agency will help us make those right choices, recruiting people with commercial experience to ensure we use taxpayers' money wisely."
Regions around Australia will benefit from the Budget allocations, including long-awaited road maintenance in South Australia.
"The commitments in the Federal Budget to a number of infrastructure projects in SA will help restore confidence and provide much needed work for civil contractors," said Phil Sutherland, chief executive of the Civil Contractors Federation in SA.
The Budget allocates $75 billion to infrastructure developments around Australia.
Infrastructure projects to watch
With such a significant investment to go around, there are a number of major infrastructure projects unfolding around the country. A notable development for those in building services recruitment to keep an eye on is the $5.3 billion airport that is set to be built in Western Sydney, helping to accommodate a rising flow of travelers from both within and outside of Australia.
One of the biggest initiatives is the National Rail Programme, which will create new rail infrastructure around the country including the $8.4 billion Inland Rail between Melbourne and Brisbane.
"Construction on this 1,700 kilometre project will begin in 2017-18 and will support 16,000 jobs at the peak of construction. It will benefit not just Melbourne and Brisbane, but all the regions along its route," said Morrison
"The Turnbull Government will establish a $10 billion National Rail Programme to deliver rail projects that provide better connections for our cities and regions and create new opportunities to grow our economy. Projects such as Adelink, Brisbane Metro, Tullamarine Rail link, Cross River Rail in Brisbane, and the Western Sydney Airport Rail link, all have the potential to be supported through this programme, subject to a proven business case."
As projects such as these go underway, there is likely to be a measurable rise in construction jobs, as well as the inevitable employment that stems from the resulting business growth. If you're looking for your next opportunity, talk to the Sydney recruitment agency with its finger on the pulse of Australia's latest developments. Get in touch with the team at The Recruitment Company today.