Page 1910 - Week 06 - Tuesday, 5 May 2009
Next page . . . . Previous page . . . . Speeches . . . . Contents . . . . Debates(HTML) . . . . PDF . . . .
• investing in our city’s future;
• investing in supporting jobs and building up the productive capacity of the economy; and
• investing in our community’s needs.
I turn now to the particulars of the key new initiatives outlined in this Budget.
Building the future—Infrastructure
Mr Speaker, last year the Government delivered a budget that included a billion-dollar infrastructure program—an investment in the physical nature of our city unmatched in our history.
This was a cohesive package. One that aimed at increasing the productive capacity of the economy, reducing future costs, and supporting the growth of the city and its economy.
We provided for investments in the health system for the next decade. Investments in transport. Investments in the environment. This was an investment in Building the Future.
Mr Speaker, this Government remains focused on future building. Our previous commitments to infrastructure continue to be rolled out across this Budget. We continue to invest in the productive capacity of our economy.
We will continue to build our future schools and our future health system.
In the 2009-10 Budget, the Government will not only progress its Building the Future program of investments, but the program will be enhanced.
A further $274 million in capital is being allocated for new projects.
The ACT Government investments are also supplemented by the funding from the Commonwealth Government under its Nation Building and Jobs Plan as part of the Economic Security Strategy. Investments in the Territory’s schools and public housing under this plan total $334.5 million.
In total, the Budget is committing $762 million of cash expenditure in 2009-10. The total budget capacity being allocated to capital investments over the next few years is over $2 billion.
A million dollars of capital expenditure supports an average of around three jobs in the construction and associated industries. The total capital allocation would support more than 2,000 jobs in the economy.
These are unprecedented commitments to the Territory’s infrastructure. They will increase the Territory’s asset base by more than 20 per cent, and boost the productive capacity of the economy in the longer term.
Next page . . . . Previous page . . . . Speeches . . . . Contents . . . . Debates(HTML) . . . . PDF . . . .