MYEFO commitment to transport funding welcomed by Australian Automobile Association
AAA’s says extra $4.2 billion will help with traffic congestion and road safety
Australia’s peak motoring body has welcomed and endorsed the Federal Government’s decision to bring forward $4.2 billion in transport infrastructure investment as part of the Midyear Economic and Fiscal Outlook (MYEFO).
The Australian Automobile Association (AAA) said confirmation of the funding injection over the forward estimates was essential for dealing with traffic congestion, providing safer roads and driving economic productivity.
The AAA’s Managing Director, Michael Bradley, said the forward forecasts were good news for motorists.
“The Federal Government hasn’t only quarantined transport infrastructure from the impact of declining revenue, but they have moved to inject more funds. That’s good news for the eight million Australian motorists that the AAA represents through our member clubs including the NRMA, RACV, RACQ, RAC, RAA, RACT and the AANT.
“It’s also good news for users of public transport and good news for our economy”, Mr Bradley said.
He said motorists were one of the few groups that put their own money on the table when it came to seeking government investment.
“Over the next four years, motorists will pay over $55 billion in fuel excise alone. That’s a sizeable contribution to government revenue and its fitting that a large part of that revenue is invested back into new, safer and improved roads, as well as more and reliable public transport options”, he said.