SA’s Treasurer Announced a $17.9B Infrastructure Budget Spend
In its 2021-22 State Budget, the South Australian Government pledged a record infrastructure spend of $17.9 billion over the next four years, which is expected to offer a significant boost to construction jobs.
The Budget spend is an increase of $1 billion above the previous budget, and will allow for new and improved roads, rail, schools, bigger hospital emergency rooms, sporting infrastructure, housing, a park ‘n' ride, playgrounds, and other community facilities.
This infrastructure investment is the most significant in South Australia's history.
Over the next four years, $8.8 billion will be invested in key road and public transportation infrastructure, creating a massive pipeline of jobs and ensuring a faster, easier, and more efficient journey for thousands of motorists.
This includes $202 million (shared funding with the federal government of 80:20) for the Truro bypass, as well as a new $48.5 million Park ‘N' Ride at Tea Tree Plaza, which will provide at least 400 additional park ‘n' ride spaces.
The State Government is working with the Federal Government to get additional money for the remaining sections of the North South Corridor.
This project's comprehensive business case is currently being developed. Significant work has been done on the tunnels and road project design to determine final costings, with the entire project cost being estimated to be around $9.9 billion. The present federal government commitment to the project is $2.711 billion ($5.422 billion total expenditure).
The SA Government will invest $1.95 billion ($1.1 billion up to 2024-25) to build a new state-of-the-art Women's and Children's Hospital adjacent to the existing Royal Adelaide Hospital on North Terrace. Costing is subject to revision by Infrastructure South Australia, which may have an impact on expected project costs.
Over the next four years, the government will spend $2 billion on health capital works projects, including more than $110 million to provide 140 new treatment spaces to emergency departments and Emergency Extended Care Units at Flinders Medical Centre, Lyell McEwin, Queen Elizabeth, Modbury, Mount Barker, Murray Bridge, Gawler, and the Southern Fleurieu Health Service in Victor Harbor.
SA Premier Steven Marshall stated that there are now more South Australians employed than ever before, and that the state's record infrastructure spending will create and maintain thousands of local employment.
“Our Budget for a stronger South Australia is creating jobs, building what matters and delivering better services to further secure our growing global reputation as one of the safest and most attractive places in the world to live, work and raise a family,” Mr Marshall said.
“We are locking in a significant pipeline of job-creating infrastructure projects that will transform local communities and improve lives across the state as we chart our path out of the pandemic.
“We are building new hospitals, significantly expanding emergency departments, delivering improved roads that will reduce travel times and building world-class schools and accelerating urgent school capital works that will enhance learning for students right across the state.”
The State Budget 2021-22 allocates $79 million from 2022-23 to 2024-25 for planning and site preparation work for the new $662 million 15,000-capacity multi-purpose arena within Adelaide's Riverbank Precinct – a massive job creator for exhibition, conferences, professional sport, and contemporary live entertainment.
The SA Government also stated that it is expanding on its record $1.3 billion investment in public education infrastructure to further improve the learning opportunities and environment for young South Australians by constructing a new 1,200-place year seven to twelve high school on the Norwood Morialta High School Rostrevor campus ($84.4 million). As part of this record commitment ($42 million), it will also prioritize funding for necessary capital works for several schools and preschools around the state.
Between 2021-22 and 2024-25, approximately $660 million will be invested in residential housing, including the Affordable Housing Initiative, which will result in the construction of over 1,000 affordable homes over the course of the project, as well as public housing capital maintenance and renewal.