The Federal Government has announced significant infrastructure investment as a major component to its economic recovery plan – focussing on jobs, transport, water security, environment and digital infrastructure.
A total spend of $14 billion has been proposed in new and accelerated projects including the construction of more roads, rail and bridges. This is expected to create 40,000 jobs over future years.
In addition to transport infrastructure, proposed investment in other infrastructure includes:
water infrastructure including investments in dams, weirs and pipelines
recycling infrastructure including the banning of waste export comprising of plastic, paper, tyres and glass waste
digital infrastructure including development of 5G initiatives and cyber-security.
The significant infrastructure spend and flow on benefits is expected to beneficially impact all businesses in some shape or form. It will be important for businesses to stay across the infrastructure announcements as further details become known. In particular, small to medium sized businesses will benefit from digital infrastructure support programs.
Bentleys’ Federal Budget analysis will be amended throughout the month of October 2020 to include more targeted industry analyses that explore the impacts and opportunities Australians, so please return to this page for more insights.
In the meantime, if you have any questions as to how this budget impacts you, your family or your business, please contact your local Bentleys advisor. We are here to help you navigate these challenging times and to help you get to where you want to be.