Victorian and Australian 2024-25 Budgets
DR ELIZABETH GIBSON, General Manager of CMPA provides a summary from the Victorian anFederal budgets together with budget and performance objectives for Resources Victoria.
Victoria
On 7 May 2024 Victorian Treasurer Tim Pallas handed down the Victorian State Budget (https://www.dtf.vic.gov.au/statebudget/2024-25-state-budget) for 2024-25. There were several initiatives of note for the ports and freight sector.
More freight by rail
$104.3 million in funding was provided for V/Line to deliver periodic and routine maintenance works on freight rail corridors across Victoria to maintain the sustainability of Victoria’s freight rail infrastructure. Funding is also provided to wind down the Mode Shift Incentive Scheme while continuing to support the transfer of freight from road to rail.
Road improvements
• $964 million to maintain Victoria’s road network
• Upgrades including Princes Highway East, Sale Alternative Truck Route, upgrading of Dimboola Bridge and Dadswell Bridge on the Western Highway
According to the Weekly Times (Wednesday May 15 2024) “the regional road resurfacing target has been cut by 75%.” “…failing to resurface roads will eventually lead to their collapse – instead of paying $6 8 a square metre resurfacing you end up having to spend $60 a square metre to rehabilitate it – dig it up, reshape, compact and reseal”.
West Gate Tunnel readiness
$10.3 million in funding was provided for enforcement of 24/7 truck bans on six roads in inner-west Melbourne to support network readiness for the opening of the West Gate Tunnel.
Gippsland Lakes port access
Funding is provided to undertake priority renewal works to sections of the Lakes Entrance Training Walls. This work will ensure continued access to and from the Gippsland Lakes for commercial fishers, commercial vessels and tourism businesses.
Victorian Renewable Energy Terminal planning and design
Additional funding is provided to undertake further planning, design and development work on the Victorian Renewable Energy Terminal at the Port of Hastings to support the government’s commitment to the generation of electricity from offshore wind power.
Australia
The Treasurer Jim Chalmers delivered the Federal Budget on Tuesday 14 May 2024 https://budget.gov.au/content/documents.htm.
The Budget provides $996 million towards Big Build transport projects, including funding to operate and maintain new transport infrastructure and preparing for the opening of the Metro and West Gate Tunnels. The Budget has also provisioned $130 million for the repair and improvement of Victoria’s road network.
• North East Link: An additional $3.25b has been provided to the project.
• Regional rail: $290.1m has been allocated to the Gippsland Rail Line Upgrade, and $150m to upgrade the MaroonaPortland Rail Line.
• Road improvements: $17.6 million for projects in Victoria, including $12.0 million for the Bridgewater Road and Portland Ring Road intersection upgrade.
• Upgrade of Portland to Maroona line: $540 million to improve the reliability of the Australian Rail Track Corporation’s interstate freight rail network, including $150 million to upgrade the Portland to Maroona line.
• Camerons Lane Interchange: $750 million in additional funding toward the Camerons Lane Interchange which is an enabling project for the Beveridge Intermodal Freight Terminal – the terminus for the Inland Rail Project.
• Ballarat Intermodal Freight Hub: $18.7 million in additional funding to develop the Ballarat Intermodal Freight Hub located in the Ballarat West Employment Zone.
• Creation of Safer Local Roads and Infrastructure Program: The Heavy Vehicle Safety and Productivity Program and Bridges Renewal Program will be merged to ease administrative burden into a new Safer Local Roads and Infrastructure Program with at least $200 million available each year.
Resources Victoria, DEECA
Also of interest are the statements made by the Victorian Government around earth resources in Victoria.
“Supporting the resources sector to achieve Net Zero and the Big Build Funding is provided to support Resources Victoria to deliver improved efficiency and reliability of licensing approval functions, regulate potential harms in earth resource operations, and support industry investment into critical minerals and extractive materials with reform and targeted programs.”
Sustainable development of Victoria’s earth resources
“The Department delivers policy, programs and regulation to enable investment and generate jobs through the sustainable development of the State’s earth resources.
The Resources output develops and delivers policy, programs and regulation to enable investment and generate jobs through the sustainable development of the State’s earth resources.”
Changes to the output structure
The Department has made changes to its output structure for 2024-25, in addition to the machinery of government changes reflected in Table 1, as shown in the table below.
Resources Victoria Budget
15.3% decrease for 2024-25 when taking into account the revised budget for 2023-24.
Note that the only rehabilitation being undertaken by Earth Resources Regulation is for minimising risks from rehabilitation of former mines where “funding is provided to deliver remediation works at former Benambra and Bendigo (Woodvale Ponds and Kangaroo Flat) mine sites to return previously mined lands to beneficial public uses.”
Performance Measures
“ERR also regulates the earth resources sector through transparent, consistent and timely regulatory processes that provide industry with confidence to invest and have regard to the needs of communities and minimise impacts to the environment.”
Note that CMPA is holding a free to Members webinar 11:00am Friday 21 June 2024 on the Road Maintenance Program by Michael Bailey Chief Regional Transport (Acting) Department of Transport and Planning.
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