Ms McBAIN (Eden-Monaro—Minister for Regional Development, Local Government and Territories) (17:25): It's been just under a month since the Treasurer handed down the Albanese Labor government's third budget. It is a budget which builds upon the solid foundations that we have laid in our first two years of government and cements our commitment to a future made in Australia. It is responsible, suitably balanced and allows for the delivery of nationally significant nation-shaping projects. From infrastructure, strategic transport, connectivity, net zero and local road upgrades, our investments will forge a better future. They will drive productivity, boost economic growth, create jobs and ensure we continue to manage inflationary pressures.
Our sensible reforms to the $120 billion Infrastructure Investment Program have made it more sustainable while allowing us to invest $16.5 billion into new and existing projects. There is $4.6 billion for new projects, including upgrades to Western Sydney infrastructure, improving the capacity of METRONET in Western Australia and delivering bridge and intersection upgrades along the Warrego Highway in Queensland. Our $10 billion investment in existing projects ensures they won't just be in media releases; they'll actually be delivered. Projects like the Mount Ousley interchange, which I had the pleasure of visiting a couple of weeks ago, will receive an additional $72 million. Our responsible investment ensures that we target projects that communities want us to deliver and that we complete projects that already have shovels in the ground.
Everywhere I go, businesses, councils and organisations tell me that it's hard to keep workers in their communities because there has been nowhere to house them. It's a direct consequence of nearly 10 years of sitting on your hands, which is what the opposition were doing in government, but now we are doing something about it. We're making significant investments to build more homes across this country. We're building our $500 million commitment to the Housing Support Program with an additional $1 billion to support states and territories to deliver enabling infrastructure that will help us to get more homes built sooner.
We're focused on a future that delivers fibre upgrades so more Australian families and small businesses are connected to high-speed broadband, because connectivity is no longer a nice to have; it's an absolute necessity. The $1.3 billion delivered in the 2024-25 budget forms part of our $2.4 billion equity investment to support the NBN's ongoing fibre upgrade program. We're making it easier to operate a business and to study and work from home, with 10,000 households and businesses across my electorate of Eden-Monaro alone now able to order a faster NBN service.
Unlike those opposite, we're building for the future, which also includes our transition to net zero. The transport sector will play a key role in this, which is why this budget includes funding for the implementation of the new vehicle efficiency standard, sustainable aviation fuels and renewable diesel. The biggest commitments to the Australian flagged and crewed maritime strategic fleet ever, something totally neglected by those opposite over the last decade, will build our capacity and allow more movement of cargo in times of crisis by minimising the impacts of international supply chain disruptions.
We're committed to keeping Australians safe and secure. A key focus of the budget has been on tackling the scourge of scams, improving safeguards for children online and narrowing the digital gap for First Nations communities. It's not just online safety that we are focused on. We're also committed to making safer local roads that we use each and every day. It's why we're strengthening our partnership with local councils and delivering more funding to get targeted road improvements off the ground. We're progressively increasing Roads to Recovery from $500 million a year to a billion dollars per year. We're increasing the road Black Spot Program from $110 million a year to $150 million per year, and we're introducing a new $200 million Safer Local Roads and Infrastructure Program.
The budget also allocates $100 million towards a new National Active Transport Fund. This will support states and territories to improve bicycle and walking paths across the country. We also know how important airports are for connectivity right through our regional and remote communities. That's why this budget includes additional funding for the Remote Airstrip Upgrade Program, the Regional Airports Program and the Remote Aerodrome Inspection Program.
From local footpaths to local roads to major infrastructure projects, our investments through the 2024-25 budget build on everything that we've achieved for this country in our first two years and will ensure we continue to build a better future for generations to come.
