To: CCF Victoria staff, members and stakeholders.
CEO Update: CCF National 2020 Federal Government Budget Briefing
On behalf of the CCF National CEO, Chris Melham and Executive Officer, Duncan Sheppard, I am pleased to provide you with a comprehensive summary of the infrastructure and training announcements made in last night’s 2020 Federal Government Budget by the Federal Treasurer, the Hon Josh Frydenberg.
In relation to infrastructure investment the Federal Government has announced:
- an additional $7.5 billion for road and rail infrastructure projects in the 2020-2021 Budget (refer to Attachment A for a breakdown of new and additional funding commitments). The $7.5 billion investment includes new projects in each jurisdiction as well as additional funds for existing projects, and in most cases, requires matching funds from the respective State or Territory Government.
- an additional $2 billion investment in road safety measures as part of a new Road Safety Program.
- an additional $1 billion under the Local Roads and Community Infrastructure Program in addition to $500 million announced in June 2020.
- $2 billion in new funding to build water infrastructure including dams, weirs and pipelines.
- The Commonwealth’s investment in infrastructure since the outbreak of COVID 19 is approximately $14 billion.
In relation to training and upskilling the Federal Government has announced:
- A $1.2 billion package in the 2020-2021 Budget to support the hiring of apprentices.
- The package is in addition to the previously announced $2.8 billion Supporting Apprentices and Trainees wage subsidy to help employers to retain their apprentices and trainees.
- Under the package employers will be eligible for 50 per cent of the wages for a new or recommencing apprentice or trainee for the period up to 30 September 2021, up to $7,000 per quarter.
- The subsidy will be available to employers of any size or industry, Australia-wide who engage an Australian apprentice or trainee from 5 October 2020 until the 100,000 cap is reached.
For your information please click here for a detailed breakup of infrastructure spending by jurisdiction.
Last night’s budget represents the next phase of the social and economic COVID-19 recovery efforts, with a series of measures designed to kick-start economic activity, boost household spending and stimulate employment growth. Investment in major infrastructure is an integral part in this plan, with the Budget containing several significant announcements that will benefit our industry and aligned to our CCF advocacy.
Click here to view CCF National’s Media Release: https://www.ccfvic.com.au/wp-content/uploads/2020/10/7-10-20-Infrastructure-Budget-Welcome-But-Delivery-of-Projects-Critical-to-Stimulus-Success.pdf
Until my next update …. keep well – keep safe.
CEO, CCF Victoria