Local Councils across the Parkes electorate are set to receive a major boost in funding towards local roads and streets thanks to extra revenue that will be raised through fuel excise indexation over the next decade.
$1.105 billion extra funding will be made available to councils across Australia for vital road upgrades through the Roads to Recovery Programme over the next two years.
The extra funding has come about after the fuel excise indexation legislation passed through Federal Parliament last week.
Federal Member for Parkes, Mark Coulton is very pleased that councils and residents across the Parkes electorate will see more road works taking place in their local areas.
“Our local road network is vital to our regional economy and every resident understands the challenges this region faces with building necessary roads,” Mr Coulton said.
“The Australian Government’s extra funding of over $155 million to local councils in the Parkes electorate over the next two years means that councils can now invest in more of the road upgrades we need.
“This extra funding will deliver a tangible benefit and make our roads and streets safer and more reliable.”
“This is a massive boost in funding for our region’s road network and I am looking forward to seeing the additional opportunities this decision will create for our councils.”
Mr Coulton said the Roads to Recovery Programme has been a popular initiative since the Coalition Government introduced it in 2001.
“Over its almost 15 year history, Roads to Recovery has funded the repair and upgrade of more than 45,000 local streets and roads across Australia, the largest investment in Australia’s local roads ever undertaken. This includes scores of road and street projects across rural and regional NSW.”
The extra funding will increase Federal Government funding for Roads to Recovery from $700 million to $1 billion in 2015-16 and from $350 million to $1.155 billion in 2016-17.
This extra $1.105 billion being pumped into Roads to Recovery will be paid to councils under the usual formula as part of their regular quarterly payments without any requirement for councils to match the extra funding.