CCAA has welcomed measures announced in the 2022/23 Federal Budget that continues Australia’s economic recovery through infrastructure investment while addressing short term cost pressures through a temporary halving of the petrol excise.
A further increase of $16 Billion in new infrastructure commitments across the nation assists the construction sector to maintain its central role to assist Australia’s economic recovery from the effects of the global pandemic. The temporary halving of the fuel excise to 22.1 cents per litre for the next six months helps to address short-term cost of living pressures for everyday Australians and will also be welcomed by small and large scale businesses within our sector which rely upon the use of heavy vehicle transportation of quarry materials.
New infrastructure commitments included in the 2022/23 Federal Budget include:
- Brisbane to Sunshine Coast rail extension in Queensland
- Sydney to Newcastle Faster Rail upgrade in NSW
- Beveridge and Truganina Interstate Freight Terminals in Victoria
- Metronet signalling, crossing removal and extension projects in WA
- North-South Corridor from Torrens to Darlington in SA
- Stage 2 of the Northern Roads project in Tasmania
- Central Australian Tourism Roads in Northern Territory
- Athllon Drive Duplication in the ACT
“Ongoing infrastructure spend and the temporary relief in petrol excise are particularly welcomed by our sector as measures to assist the national economy recovery plan and keep Australians in jobs”, said CCAA Chief Executive Officer, Ken Slattery.
“The construction sector will continue to play a central role in Australia’s economic recovery from the global pandemic through further demand increases for the supply of quarry materials such as cement, concrete, stone and sand. Our sector supports the national economy through the employment of over 110,000 direct and indirect jobs and the measures announced in the Budget will be of benefit.”
“It is pleasing to see infrastructure investment increasing at this critical phase of our nation’s economic rebuilding and with an election due shortly, it is important that the current levels of investment are maintained or increased to support the recovery process,” Ken Slattery said.
“CCAA also notes the boost to skills and training which enables a 20% investment allowance to upskill staff in the use of digital technology through an external training provider. This measure enables small businesses to better meet the challenges of the transitioning economic environment and help prepare employees for new roles and responsibilities.”