Infrastructure – this year’s federal budget focus

May 2021 by ORIX

Infrastructure to drive productivity

Infrastructure is a cornerstone of this year’s budget, with the federal government adding $15 billion to its $110 billion, 10-year infrastructure plan1.

Highlights include2:

  • $2 billion for a new Melbourne intermodal terminal.
  • $2 billion upgrades to sections of the Great Western Highway in NSW.
  • $1.3 billion for road and rail projects in Western Australia.
  • $600 million for a National Recovery and Resilience Agency to help re-build areas hit by recent natural disasters.
  • $539.2 million for carbon capture, use and storage projects and to build four hydrogen hubs to support carbon capture, on top of $100 million for three renewable energy projects being managed by the Australian Renewable Energy Agency.
  • $250 million for infrastructure projects in rural and regional areas through The Building Better Regions Fund.
  • $190 million over five years for development funding in northern Australia.

“Engineering, construction, consulting and mining firms involved in these projects will all be rethinking their fleet requirements,” says Reggie Cabal, Chief Executive Officer and Managing Director of ORIX Australia and New Zealand.

Flexible fleet solutions, including a combination of tax-effective leased vehicles and on-demand rental vehicles, which allow businesses to scale their fleet up and down, are going to be popular solutions as we enter a new phase of economic growth,” he adds.

As one of Australia’s leading Fleet Management providers, we can take care of the day-to-day management of your fleet through flexible leasing, rental and mobility solutions that can help lower your cost of operation and minimise the burden of managing your vehicles. Speak to a Relationship Manager about how we can help your business, get in touch today.

 

[1] Sydney Morning Herald, 2021, https://www.smh.com.au/politics/federal/treasurer-josh-frydenberg-s-full-budget-speech-20210511-p57qxs.html, accessed 11/05/2021

[2] Federal Budget, 2021, https://budget.gov.au/2021-22/content/overview.htm#twol, accessed 11/05/21

 

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Linda trigg

Linda Trigg

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