The Andrews Labor Government’s strong pipeline of infrastructure investment is continuing to drive Victoria’s economy with key figures released today showing a boost in the value of local investment projects.
Today’s buoyant Deloitte Access Economics (DAE) Investment Monitor report shows the value of investment projects in Victoria grew to $76 billion by the end of June. This is an increase of 3.1 per cent over the quarter, which compares to a decline of 5.9 per cent across the nation.
DAE reports that 17 projects worth $8.3 billion in total were completed in Victoria between April and June 2017, including more than $1 billion in works to remove dangerous level crossings and rebuild Victorian train stations.
The report shows Victoria's investment profile is dominated by the transport sector, which thanks to the Labor Government’s investments accounts for more than three quarters of all engineering projects in Victoria.
With the $10.9 billion Metro Tunnel project now underway, agreement reached on delivering the $1.5 billion Regional Rail Revival Project, alongside more than 80 public and Public Private Partnership (PPP) projects under construction and in the pipeline, the Labor Government is working hard to ensure investment in our future.
The DAE Investment Monitor report follows last week’s release from the Australian Bureau of Statistics confirming more than a quarter of million jobs have been created in Victoria since November 2014.
Quotes attributable to Acting Treasurer Gavin Jennings
“The Labor Government is getting on with delivering the Metro Tunnel, removing congested level crossings and upgrading every passenger line in regional Victoria.”
“Unlike the Liberals who did nothing for four years, our infrastructure investment of $10 billion a year over the next four years is delivering jobs and building the transport links that hard working families need.”
Reviewed 19 August 2020