The government has committed an additional $3.7 billion towards general road construction from 2013-14 through 2017-18, along with $2.9 billion over ten years for the Western Sydney Infrastructure Plan and concessional loans for Stage 2 of the WestConnex project.
Melbourne's East-West Link Stage 2 will receive an additional $1.0 billion in funding, while the Perth Freight Link will receive an additional $866.0 million.
IBISWorld estimates that the industry is worth $14.5 billion in 2013-14. The overall funding increases will provide additional revenue growth for the industry, which is largely dominated by state government authorities and private construction contractors and engineering consultancies.
The federal government has attempted to reduce its deficit with the hotly-debated budget, but IBISWorld is forecasting road and bridge construction to emerge as a big winner from the new strategy.
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