Victorian Treasurer Tim Pallas handed down the State Budget on Tuesday, confirming a reduction in infrastructure spending from a peak of $24bn in 2023-24 to $15.6bn in 2027-28.
As the government looks to rein in debt and manage market constraints, the Treasurer confirmed that the Victorian Government will delay construction of the Melbourne airport rail by at least four years.
Delays to the delivery of Suburban Rail Loop were also flagged, with the completion date for early works on the eastern section pushed back from mid-2025 to early 2026.
For the Metro Tunnel, which will open a year ahead of schedule in 2025, there was well-placed investment in connected customer journeys. The Budget includes $233.4 million to complete the integration of the new tunnel into Victoria’s transport network and prepare staff, systems, infrastructure and customers for services to start.
Roads Australia particularly welcomes the increased investment in regional road maintenance, which is essential to network resilience for reliable community access and supply chain productivity across the state.
As part of a 10-year $6.6 billion road maintenance investment, $964 million has been allocated to maintain the state’s road network in 2024-25 – including extra funding to clean up flood damage.
Minister for Roads and Road Safety and Ports and Freight Melissa Horne said: “We’re facing a significant and complex repair program after some of the worst floods in our state’s history – that’s why we’re investing in a long-term, data-driven plan to make our roads more resilient to extreme weather.”
The doubling of the State’s road safety budget is a standout investment at a time of urgent need to reduce the road toll, with $25 million for active transport infrastructure and local road upgrades to improve road user safety.
To view the Budget papers, visit https://www.budget.vic.gov.au/