7 May 2013 — Today’s Victorian budget has been described by the Napthine government as a win for infrastructure.
The First Home Owner grant has been increased to $10,000 for newly constructed properties, in an attempt to breathe life the stagnant residential construction sector. The grant will no longer apply to established homes. Stamp duty concessions of 40 per cent will also be brought forward for all first home owners.
The government has also committed close to $300 million over the next two years for the controversial East West Link road. The project is estimated to create ,200 jobs, cost between $6 billion and $8 billion and is expected to be completed by 2019.
“”It will change the way we move around Melbourne and beyond,” said Treasurer Michael O’Brien in his address to Parliament.
At the other end of the spectrum, the budget’s 2013-14 public transport spend is a princely $10 million on the Melbourne Metro Rail Tunnel project.
Two million dollars has been committed to a mixed-use development in West Melbourne on a 20-hectare site located in a rail yard. The site could accommodate 12,000 residents, 200,000 square metres of commercial and retail space, and public facilities.
Urban water projects will also see $22.5 million in funding.
Last month, an $110 million commitment was revealed for the planning and design of the Port of Hastings, which was described as essential for importers and exporters.
The budget is expected to deliver a $224.5 million surplus.