Money Guide

Isfahan Morning Requirements

Money Guide Events NSW Treasurer Scott Morrison to address media in Brisbane

NSW Treasurer Scott Morrison to address media in Brisbane

Treasurer Scott Morris will address the media in Sydney today to announce a $25 million investment in new infrastructure to help the state recover from the impact of Superstorm Harvey.

The state’s unemployment rate was at 8.1 per cent and the total unemployment rate stood at 7.9 per cent.

Mr Morrison said he had been inundated with calls from people all over the country seeking to help out the state.

“The message is that this is a great time for our people to come back, and it is the time to rebuild,” he said.

“We need to do this, we need to rebuild and we need it now.”

A major infrastructure project will be announced at the same time the State Government announces $25.4 million for a new $2.3 billion highway to link the major cities of the state to the south coast.

Mr Morris said the project would provide more reliable and affordable access to services, particularly for people living in regional areas.

The $25 billion infrastructure package will be a major boost for the state and is expected to deliver a $20 billion economic boost to the economy.

Mr Morrison said the new highway would be constructed on a 1.6 million-square-kilometre stretch of the existing highway system, including a new interchange at the Port Macquarie Airport, and will connect with the $50 billion Metro Rail Link.

“It will bring thousands of jobs to our north, west and central cities,” Mr Morrison told reporters in Sydney.

“If we are going to be competitive, we have to compete with other places in the world.”

The $2 billion investment in infrastructure will be funded by an extra $2 million from the state’s $1.8 billion package for infrastructure investment, along with the federal government’s $5 billion package.

Mr Moore said the $25-billion package was the most significant investment in NSW since the Great Recession.

“This is the first of its kind in the state of New South Wales,” he told ABC Radio.

“You are going back to the days when we had the greatest economic recovery of all time, and people are working again, families are back in the home, businesses are back to business.”

Mr Moore was also keen to highlight the state was facing “an economic crisis”, and had been “losing more and more jobs” to overseas competitors.

The Victorian Premier Daniel Andrews said he welcomed the project and welcomed the “high levels of investment” to build the interstate.

The Federal Government’s $10.5 billion plan to create a “faster, fairer and more equitable” system to deliver affordable access, employment and a stronger economy has been announced as part of its $10 billion infrastructure plan.

Mr Andrews said the federal Government’s investment in the State’s infrastructure was “going to make the Australian economy stronger, stronger, better and fairer”.

He said the state could also benefit from the federal investment, as the federal economy was likely to grow faster than the state over the next 10 years.

Mr Newman said the investment was a “win-win” for both sides.

“I’m delighted to announce this $25bn investment, and I’m glad to see the Federal Government committing to a more effective and equitable funding package, and the investment we’re making to help our states grow and improve,” he wrote on Twitter.

“With more money in our hands, the Victorian Government will be able to create jobs, provide affordable access and invest in our infrastructure.”

Federal Budget 2018: Labor’s Kevin Andrews, Liberal Greg Hunt and Greens’ Mehreen Faruqi deliver budget in the House of Representatives The Victorian Government is also set to receive an extra one billion dollars over five years to help it tackle the financial impact of the superstorm, and to pay for projects in areas like education, housing, infrastructure and education.

Mr Faruqa said the Federal Budget was about “re-building our economy” and “saving the economy”.

“This will support the Victorian economy and deliver the economic recovery we’ve been waiting for for,” she said.

The Commonwealth is also expected to receive a $2bn funding boost from the $5.3bn package for the State Infrastructure Fund.

“Victoria’s contribution to the Federal budget is a significant boost to our State Government’s budget to meet its long-term needs, including the Commonwealth’s infrastructure and social infrastructure funding commitments,” Treasurer Joe Hockey said.

Topics:government-and-politics,government-office,state-parliament,parliament-house-2330,parlin-4550,vic,australia,nsw,perth-6000,sydney-2000More stories from Victoria

TopBack to Top