Infrastructure spending of almost $17 billion in 2010/11 will build on the foundation of the previous year, providing a huge boost to the NSW economy and create up to 155,000 jobs, state Treasurer Eric Roozendaal says.
After announcing a return to surplus in the 20010/11 budget handed down on Tuesday, Mr Roozendaal said the government aimed to consolidate a recovery in the economy and take NSW forward into a "new era" of growth and progress. Mr Roozendaal said the $16.6 billion of infrastructure spending in 2010/11 would ensure the state government's investment in infrastructure "would remain at all time highs".
The $16.6 billion spending in 2010/11 is part of a NSW government program that aims to invest a total of $62.2 billion in infrastructure over the next four years.
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"This investment will ensure NSW is able to provide better public services and facilities, and will help support jobs along with securing our energy and water supplies," Mr Roozendaal said.
The $62.2 billion investment over four years was expected to support up to 155,000 full-time-equivalent jobs each year.
Over the next four years, the state government plans to spend $22.9 billion on transport, $17.4 billion on electricity, $4.7 billion on water and sewerage, $3.3 billion on health, $2.7 billion on housing and $3.6 billion on education.
The allocation for transport includes $3 billion for the Pacific Highway, $1.6 billion for the Hunter Expressway, $750 million for the Hume Highway, $1.7 billion for the South West Rail Link and $1 billion for the new Western Express Line.
Also in 2010/11, $7.7 billion will go to investment in the general government sector - schools, hospitals and roads, while $8.9 billion will be spent on the public trading enterprise sector - energy and water infrastructure, railways and social housing.
The state's underlying investment in infrastructure for 2010/11 was up 9.4 per cent on the previous year, after adjusting for the winding down of the federal government's Nation Building Economic Stimulus Plan, Mr Roozendaal said.
