Summary of proposal
Party
Australian Labor Party
Policy Topic
Infrastructure and transport
Portfolio
Infrastructure, Transport, Regional Development and Communications
The proposal would provide capped grant funding for infrastructure projects, with the following profile.
| Financial year | 2022-23 | 2023-24 | 2024-25 | 2025-26 | 2026-27 | 2027-28 | 2028-29 | 2029-30 | 2030-31 | 2031-32 | 2032-33 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Spending ($m) | 1,380 | 1,420 | 1,300 | 1,140 | 440 | 440 | 440 | 440 | 440 | 440 | 440 |
This capped grant funding would be partially offset by existing budget funding for some projects and reprioritisation and re-profiling within existing infrastructure spending over the same period, with the following profile.
| Financial year | 2022-23 | 2023-24 | 2024-25 | 2025-26 | 2026-27 | 2027-28 | 2028-29 | 2029-30 | 2030-31 | 2031-32 | 2032-33 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Offsets ($m) | -1,400 | -1,440 | -1,200 | -920 | 710 | 710 | 710 | 710 | 710 | 710 | 710 |
The offsets consist of:
- funding budgeted for various infrastructure projects as at the 2022 Pre-election Economic and Fiscal Outlook (PEFO)
- other reprioritisations and re‐profiling within existing infrastructure spending.
The proposal would have effect from 1 July 2022.