Chris Bowen (Prospect, Australian Labor Party, Assistant Treasurer) Share this | Link to this | Hansard source

I move:

That this bill be now read a second time.

Appropriation Bill (No. 6) 2008-2009 provides additional funding for payments of a capital nature, such as for the purchase of administered assets and for payments to the states, territories and local government authorities.

The total additional appropriation sought in Appropriation Bill (No. 6) 2008-2009 is $1.83 billion.

As part of the $4.7 billion nation-building package, the government will provide the Department of Infrastructure, Transport, Regional Development and Local Government with $1.189 billion additional equity for the Australian Rail Track Corporation. The Australian Rail Track Corporation is a wholly owned Commonwealth company and is undertaking a significant infrastructure investment program. This includes 17 projects to improve the reliability and competitiveness of the nation’s rail freight network, including the expansion of capacity along the rail corridors connecting Hunter Valley coalmines to the Port of Newcastle. This expansion of capacity will more than double the amount of coal capable of being transported to port from 97 million tonnes a year to 200 million tonnes a year.

The government also proposes under the package to bring forward $711 million to invest in building better roads. The Department of Infrastructure, Transport, Regional Development and Local Government will be provided with $392 million in 2008-09 for payment to the states, territories and local government to accelerate the commencement of a number of important projects on the national network and other strategic roads. This will bring forward expenditure on projects including the Bulahdelah bypass on the Pacific Highway, Melbourne’s Western Ring Road, the Douglas arterial on the Bruce Highway in Townsville, Adelaide’s Northern Expressway and the Brighton bypass on the Midland Highway in Tasmania. The payment to the states also includes an additional $60 million investment this year in the highly successful road safety Black Spot program.

Consistent with the agreement reached with minor parties during the passage of the nation building and jobs package, the government proposes to bring forward expenditure totalling $500 million over four years beginning in 2008-09 to assist in expediting the return of water to the environment and deliver long-term benefits to the Murray Darling Basin. The Department of the Environment, Water, Heritage and the Arts will be provided with $250 million in 2008-09 for this purpose. The government considers that this is the maximum pace of water recovery that can be pursued without causing unnecessary disruption to the water market and without compromising the amount of water that can be returned to the rivers over time.

I commend the bill to the House.

Debate (on motion by Mr Lindsay) adjourned.