The Civil Contractors Federation (CCF) has welcomed the 2024-25 Budget, providing 65 new infrastructure projects worth $4.1b, assurance of the $120b Infrastructure Investment Program and Commonwealth’s recognition of the critical link between civil infrastructure, housing supply and community.
These new and existing infrastructure projects, for roads, bridges, water, and sewerage alongside the Federal Government’s $1b allocation for housing-enabling infrastructure and another $1b for the National Housing Infrastructure Facility lay foundations to building housing and community.
With the Commonwealth advancing the largest investment in housing-enabling infrastructure and construction since World War II, this acknowledgment comes at a crucial time as Australian families face pressure from inflation and cost of living.
We know that you can’t spend a dollar in housing until you spend a dollar in civil and there is balance struck here to get infrastructure in the ground and for homes to come out of the ground.
It is vital that the $2 billion in housing enabling infrastructure is allocated in $10 million, $20 million, and $50 million housing-enabling contracts to maximize the number of new homes right across the country and get ourselves out of the current decade low housing supply slump.
A strategic dispersal via the states and territories will ensure our civil contractors can efficiently roll out housing enabling infrastructure across Australia.
The CCF believes the Commonwealth Government should further increase this housing enabling infrastructure investment to $4 billion next year and $6 billion in FY 2026-27 as inflation eases and industry capacity expands.
Amidst the current pressures of skills shortages, material scarcities, and high inflation in the construction industry, the Government’s budget demonstrates a balanced and responsible approach to the economic climate we find ourselves in.
The CCF also acknowledges the Commonwealth for maintaining the $120 billion Infrastructure Investment Program Pipeline, signalling sustained growth over the coming years. This move gives CCF members some confidence for future projects.
Noteworthy projects include an additional $3.25 billion for Victoria’s North East Link, $1.9 billion for projects around Western Sydney’s Aerotropolis, and $1.15 billion to fully fund the Sunshine Coast rail link. These projects are pivotal for propelling the nation forward.
Not only is the Commonwealth continuing to roll out infrastructure, but the CCF also welcomes the investment of $90.6 million to increase the number of skilled workers in the construction and housing sector, which includes creating 15,000 fee-free TAFE places and 5,000 pre-apprenticeship positions.
This investment will allow the civil construction Industry to ramp up capacity over the coming years with a locally trained workforce.
This budget not only underpins investment for the local projects Australians expect each budget cycle, but also takes important steps that can grow the civil industry, acknowledges the role of civil in housing, and demonstrates long-term support for our industry.
Between tackling inflation and fulfilling housing and infrastructure promises, the Government’s budget takes a balanced and mature approach in the current economic environment.