Article: Rudd's $4.7b nation building plan

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From Brisbanetimes click here!

Rudd's $4.7b nation building plan

Rudd's $4.7b nation building plan
December 12, 2008 - 12:03PM

The Federal Government is introducing a $4.7 billion nation building plan to combat the affects of the global financial crisis, Prime Minister Kevin Rudd says.

The latest injection of funds comes on top of its $10.4 billion economic stimulus package.

Flanked by Treasurer Wayne Swan, Deputy Prime Minister Julia Gillard and Infrastructure Minister Anthony Albanese, Mr Rudd said the government was focusing on infrastructure because it was a major driver of economic growth.

Mr Rudd said the package announced on Friday was capable of creating 32,000 jobs.

"This package will deal with critical infrastructure in transport, it deals with rail, it deals with roads, it also deals with education, it also deals with how we support private investment," he said.

Mr Rudd said the government will bring forward $711 million in spending in the 2008-09 and 2009-10 financial years to accelerate the commencement of 14 road projects.

It will also double funding for the federal Black Spots program from $50 million to $110 million.

"This ... effectively brings forward a total of $4.7 billion in the Auslink 11 program," Mr Rudd said.

Businesses with an annual turnover under $2 million will be allowed to postpone 20 per cent of their next Pay As You Go (PAYG) tax instalment until they make their annual return.

The measure will help 1.3 million small businesses, Mr Rudd said.

It would keep $440 million in their bank accounts instead of sending it to Treasury's coffers.

The third component of the plan is a $1.6 billion investment in education.

This is made up of 11 specific education research projects and $1 billion will be directed towards the immediate capital needs of universities and TAFE colleges to deal with additional teaching and learning.

The government will provide a 10 per cent temporary investment allowance to encourage businesses to undertake immediate capital investments.

Taking effect immediately, it will apply for 12 months after capital acquisitions of more than $10,000 have been made.

Businesses will be required to deploy the projects within 12 months of making the applications, which must be lodged before the middle of next year.

Mr Rudd said it was a significant slice of money for a temporary measure.

"We want to go out there and say to people ... private capital investment is so important ... and here is an effort on the government's hand to making critical infrastructure decisions."

Mr Rudd said the plan was developed in close consultation with the Australian Chamber of Commerce and Industry (ACCI).

Mr Rudd said $1.5 billion would be spent in 2008-09, $2.7 billion in 2009-10 and $700 million in 2010-11.

He said the government was keen to bring forward longer-term projects to boost activity.

Road and rail projects in particular would be spread across the country, he said.

"What we are looking at are a series of measures which give a reasonable spread of economic activity geographically in infrastructure which is necessary, but bringing forward all that can physically be brought forward to maximise activity now and in the financial year ahead," he said.

AAP

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From  http://www.pm.gov.au/media/Release/2008/media_release_0687.cfm

$1.2 Billion Investment in Rail Infrastructure

Over the next two years, the Rudd Government will inject $1.2 billion into the Australian Rail Track Corporation (ARTC) in 17 projects to improve the reliability and competitiveness of the nation?s rail freight network.

$580 million of today?s investment will be used to expand capacity along the rail corridors connecting Hunter Valley coal mines to the Port of Newcastle. This $1 billion project will more than double the amount of coal being transported to export markets from 97 to 200 million tonnes a year.

Other Rail projects funded today include:

? $55.8 million for Queensland border to Acacia Ridge track upgrade
? $45.1 million for Sydney to Brisbane line ? new, extended and upgraded loops
? $29.7 million for Melbourne to Junee line ? passing lanes
? $45 million for Seymour to Wodonga track upgrade
? $91.5 million for Cootamundra to Parkes track upgrade
? $105.7 million for Western Victoria track upgrade
? $50 million for Wodonga Bypass duplication
? $42 million for Cootamundra to Crystal Brook line ? new and extended loops
? $76 million for Melbourne to Adelaide line ? extended loops
? $23 million Adelaide to Kalgoorlie line ? new and extended loops
? $45 million towards the $90 million Advanced Train Management System (ATMS) trial set to bring train management into the digital age

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The Prime Minister Kevin Rudd released a Nation Building document [External link PDF: 4509 KB] today which details a $4.7 billion investment in rail, road, education and research and business.

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Media Release 12 December 2008:

Nation Building
Rail, Road, Education & Research and Business announcement very welcome!

RAIL Back On Track (http://backontrack.org) a web based community support group for rail and public transport and an advocate for public transport commuters has welcomed today's announcement by Prime Minister Kevin Rudd of a number of significant national rail upgrades and investments for a more sustainable transport future (1).

Robert Dow, Spokesman for RAIL Back On Track said:

"The increased investment in rail infrastructure and capability throughout Australia is very welcome. More will need to be done but this is a great start."

"Of particular interest to Queensland is the upgrade of the standard gauge line to a dual gauge, standard and 3'6" gauge line from Acacia Ridge to Bromelton, and the further upgrade of the standard gauge line to the NSW border.  Does this now provide the opportunity for the introduction of a regular commuter rail service from Bromelton to Brisbane, and so providing some urgently needed public transport along this corridor?  RAIL Back On Track certainly hopes so!"

Reference:

1.  http://www.infrastructure.gov.au/department/publications/pdf/Nation_Building_electronic.pdf

Contact:

Robert Dow
Administration
admin@backontrack.org