May 2021 Federal Budget includes $10 billion over 10 years on Infrastructure
The Federal Government is continuing to support the economy, which is still trying to cope with the long term effects of the COVID-19 pandemic.
One initiative is to prioritise the spending of $10 billion on infrastructure across all states and territories. Projects such as a new $2 billion freight hub in Melbourne, and a $2 billion to upgrade the Great Western Highway in NSW, between Lithgow and Katoomba, as well as numerous road projects across Australia.
The uncertainty of the speed we can recover from the pandemic is still being felt, however the unemployment rate dropped to 5.6% in March. Data from ANU Centre for Social Research and Methods showed that despite JobKeeper stopping at the end of March 2021, unemployment has remained relatively steady and the Government is now addressing means to lower it to around 4.5%.