New South Wales Branch

PO Box 277 HURSTVILLE NSW 2220

Tel/Fax: 02 9579 2333

Mob: 0412 880861

Email:

ABN: 93149961882

18 June 2014

ARTIO NSW INFORMATION CIRCULAR 18/2014

New South Wales 2014-15 Budget

The NSW Treasurer, Mr Constance, handed down the NSW 2014-15 Budget on 17 June.

Key Points

Key points in the Budget were:

·  Budget surplus for 2013-14 stands at almost $1 billion.

·  Budget deficit of $283 million forecast in 2014-15.

·  Net debt $12.364 billion (2 per cent of Gross State Product).

·  Economic growth 4.7%.

·  Unemployment 5.2%.

·  Retail sales growth 8.1% in nominal terms.

Vision

Mr Constance said that the NSW Government’s vision is:

·  To unleash Sydney's economic and social prosperity by delivering world class transport and motor networks.

·  In country New South Wales to ‘unlock our freight pinch points and build new roads, dams and water pipelines so our farmers can respond to one of the greatest challenges of the 21st century - food security. Getting our produce and minerals to our ports with ease and at low cost so we can capitalise on our proximity to Asian markets and customers

·  To give every member of our community, whether they live in the regions or in the suburbs, the opportunity in life to reach their full potential.

Asset Recycling

The NSW Government intends to continue with its policy of recycling capital from existing infrastructure. It says that such a policy will not place a debt burden on the citizens of NSW.

Business

·  A WorkCover premium reduction of 5 per cent.

·  Abolition of stamp duty on business mortgages, unlisted marketable securities and transfer duty on non-real business transfers from 1 July 2016.

Roads and Rail Freight

Allocations are attached.

Infrastructure Planning

The following provides details of start dates, delivery dates and estimated project costs for major infrastructure under construction or proposed to commence in 2015:

NSW Major Transport Infrastructure

Project Name / Start Date / Delivery Date / Total Cost (Est)
WestConnex / Under construction / 2019 / $14.9 billion
NorthConnex / 2015 / 2023 / $3 billion
Western Sydney Roads package to support second Sydney Airport / 2014 / 2024 / $3.5 billion
Pacific Highway upgrade / Under construction / 2020 / Commonwealth $5.6 billion from 2013-14; NSW Gov’t $395 million from 2014-15
North West rail link / Under construction / 2019 / $8.3 billion
CBD & South East Sydney light rail / 2015 / 2019 / $1.6 billion
South West rail link / Under construction / 2015 / $2 billion

Please contact ARTIO NSW Secretary/Treasurer, Hugh McMaster, telephone 0412 880861, email , if further if information is required.

Attachment

Allocations to Road and Rail Works

Project Name / Total Allocation $m / Details
Pacific Highway - construction / 1200 / $220m - construction between Woolgoolga and Ballina.
$155m - construction of dual carriageways between Warrell Creek and Nambucca Heads.
$135m - construction of the dual carriageway upgrade from the Oxley Highway to Kundabung.
$69.5m - construction on dual carriageway upgrade between Kundabung and Kempsey.
Pacific Highway - maintenance / 44
WestConnex / 398 / $266m – planning, land acquisition.
$132m – construction and delivery by Sydney Motorway Corp.
WestConnex planning and pre-construction / 11 / Wentworth Ave extension
Joyce Dr widening
NorthConnex / 20 / Planning for tunnel construction linking M1 and M2
Western Sydney Roads package to support second Sydney Airport
Princes Highway - construction / 185 / $80m – Foxground to Berry bypass
$75m – Gerringong upgrade
$5m - realignment at Termeil Creek.
$2m continue planning of Dignam’s Creek realignment.
Princes Highway - maintenance / 52
Western Sydney roads - construction / 209 / Schofields Rd, Richmond Rd, Camden Valley Way, Old Wallgrove Rd
Western Sydney roads - maintenance / 131
Great Western Highway - construction / 113 / Completion of Woodford to Hazelbrook duplication, Completion of Bullaburra to Wentworth Falls Duplication, commencing construction at Kelso
Great Western Highway - maintenance / 21
Roads to support Second Sydney Airport / 109 / Commencing construction of Bringelly Rd between Camden Valley Way and King St
Planning for a new motorway between the M7 and The Northern Rd
Central Coast roads / 70 / Intersection upgrades on the Central Coast Highway, Wyong Rd and Terrigal Drive
Western NSW Freight Productivity Program / 50 / Includes upgrades of Cobb and Silver City highways
Fixing Country Roads / 37.5 / Partnering with industry and councils to identify last mile access constraints
Newcastle Inner City bypass (Jesmond to Rankin Park) / 150 / Fifth (final) stage
Queanbeyan bypass / 2.2 / Planning and preconstruction
Other / 69 / Second stage of the Moree bypass
Newell Highway – overtaking lanes
Barton Highway – further safety works
Oxley Highway – replacement of the Tangaratta Bridge
New England Highway – Bolivia Hill upgrade
Bridges for the Bush/rest areas / 77
Pinch points in Sydney / 43
Northern Beaches Hospital / 24 / Supporting road upgrades, French’s Forest
Regional Freight Pinch Points / 200 / Bell’s Line of Road overtaking lanes, safety works, realignments ($16m)
Other works: Golden Highway, Kings Highway, Gocup Rd
F6 corridor / 1 / Feasibility study – Loftus to St Peters
Northern Sydney Freight Corridor / 283 / Improved rail freight access – Strathfield to Broadmeadow
Grain lines / 44 / Upgrade and maintenance
Freight grain loading sites / 6 / Upgrades