Key points

• $75 billion in infrastructure funding and financing over the next 10 years

• Western Sydney Airport to be built

• Funding of Melbourne to Brisbane Inland Rail project

• $10 billion National Rail Programme

• Establishment of a $472 million Regional Growth Fund to deliver job-creating infrastructure

In an effort to create tens of thousands of new jobs, over $75 billion will be spent on critical transport infrastructure across Australia via a combination of grant funding, loans and equity investment.

Major infrastructure projects include:

• Government owned Western Sydney Airport Corporation to be established to build and operate the new Western Sydney Airport

• $10 billion National Rail Program to better connect cities and regional areas

• $8.4 billion equity funding of the Melbourne to Brisbane Inland Rail Project to provide a high-capacity freight link between Melbourne and Brisbane through regional Australia

• The Government will invest $1.6 billion towards a road and rail infrastructure package in Western Australia

• Upgrade of the Bruce Highway

• $1 billion committed for new and upgraded infrastructure in Victoria

• Supporting a major expansion of the Snowy Hydro scheme.

The Government will provide $472 million over four years to establish a Regional Growth Fund. The fund will provide grants for major transformational projects that support long term economic growth in regions undergoing structural adjustment.

LexisNexis Capital Monitor Summary:

The Treasurer has heeded calls from all sectors of society to invest in productive infrastructure. The Government has increased its infrastructure spending plans to $75 billion, up from $50 billion in last year's Budget.

The cornerstone of infrastructure spending is a $20 billion investment in rail, including a $10 billion National Rail Program for urban and regional passenger rail projects, and $8.4 to build the Melbourne to Brisbane Inland Rail.