State Infrastructure Strategy 2014 released
The State Infrastructure Strategy 2014 was released on Tuesday. Under the Rebuilding NSW Plan the NSW Government will invest $20 billion in infrastructure. This is expected to boost the economy by almost $300 billion in just over 20 years and generate over 100,000 jobs by 2035/36.
The Plan provides for:
- An additional $1.1 billion to invest in the northern and southern extensions to WestConnex along with the Western Harbour Tunnel.
- An extra $7 billion for Sydney Rapid Transit, to fully fund a second harbour rail crossing (which the Property Council has been a strong advocate for).
- $2 billion for schools and hospitals.
- $4.1 billion for regional transport.
- $1 billion for regional water security.
- $300 million for regional tourism and the environment.
- More funds to Sports and Cultural infrastructure, up from $0 million to $1.2 billion.
The Property Council is an advocate for the case of using asset recycling to pay for infrastructure and supports the Governments plans to release the capital locked up in the leased electricity network business (‘poles and wires’) to fund these projects.
To read our media release click here.
To access a copy of the State Infrastructure Strategy 2014 click here and for more information click here.