Jane Prentice (Ryan, Liberal Party) Share this | Link to this | Hansard source

The coalition government is making an historic investment in the 2014-15

budget to get on with building Australia's infrastructure.

A core element of the government's Economic Action Strategy is the commitment of an additional $11.6 billion in the budget to the Infrastructure Growth Package. This investment will also generate significant additional state and private sector participation to build the infrastructure that Australia needs. The $11.6 billion Infrastructure Growth Package is expected to catalyse over $58 billion worth of new infrastructure investments. This is on top of the coalition government's existing Infrastructure Investment Program, which will generate some $68 billion in infrastructure investment when combined with the expected state and private sector funding.

Taken together this will create an additional infrastructure investment in excess of $125 billion. This investment will transform infrastructure across the country and lay the foundations for future growth. When the construction projects supported by the government's infrastructure are completed, they will add one percentage point to GDP.

The coalition government is responding to the needs of the economy by building infrastructure that will drive economic growth, create jobs and improve productivity. I am proud to stand on this side of the chamber with the knowledge that the coalition government is investing in the infrastructure of the 21st century.