The 2022 Federal Government Budget was delivered in Canberra tonight by the Federal Treasurer, the Hon, Josh Frydenberg MP and Civil Contractors Federation National has achieved great success with the main aspects of our pre-budget submission being adopted by the Federal Government – please refer to the attached media release for a more detailed explanation. In summary they include:
- Sustained Infrastructure Investment – the 10 year rolling infrastructure investment amount has been increased from $110 billion to $120 billion (this was sitting at $75 billion in 2016 and represents a $45 billion increase after tonight’s announcement and since CCF National first began advocating on this issue at the National level).
- An equitable spread across rural and regional Australia – an additional $17.9 billion to existing and new infrastructure projects allocated across all jurisdictions.
- Fuel excise – a cut in the fuel excise by 22 cents per lite effective from midnight tonight for a 6 month period _ although it will take 1 to 2 weeks to kick in as retailers clear current inventory at the old rate.
- Procurement reform – an amendment to the Commonwealth Government Procurement Rules to require debundling of large projects and greater involvement of local contractors.