Election Campaign Promises are Getting Expensive

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Both the Labor Party and the Coalition are in the midst of plenty of promises, with over a billion dollars worth of announcements made this weekend alone.

Now, we know that every four years we get a similar load of election campaign promises. However, if we don't report on it, discuss it, and demand a follow-through, there's nothing to keep the buggers honest. So here's our running tally of the latest election campaign promises to come out of both major parties.

The Coalition is planning to create an investment fund which would be expected to provide up to $100 million each year in funding for projects in the energy efficiency and renewables space within the CEFC (Clean Energy Finance Corporation).

A Smart Cities Program worth $50 million has also been promised, with the aim of helping local government to apply technology and collaborate in an effort to improve liveability. Specific projects were also mentioned, with $10.5 million promised for an indoor netball centre which would be located near Deakin Uni, Melbourne.

[cwa id='content-ad']On the higher end of the scale, the Western Sydney City Deal was announced, although there has been no mention of the planned budget for the project yet. As a collaboration with the current government in NSW, the plan is focusing on addressing transport link challenges and job stimulation for Western Sydney. The Western Sydney Airport would be a focus, and the new CEFC fund would be used, as would the Smart Cities Program.

The Labor Party is focusing its spending on commuter infrastructure, with $120 million promised for the Park and Ride Access Fund (aiming to increase capacity for parking at various train stations in Victoria). The party is also allocating $400 million for infrastructure in Western Sydney (north-south rail), $500 million towards the Melbourne Metro Tunnel and a huge $800 million towards the Brisbane Cross River Rail Project (worth $5.4 billion).

Some of the smaller projects that Labor is throwing its support behind include the redevelopment of the Nepean Hospital in Western Sydney, with a promise of $88 million. The total for construction announcements from the opposition comes to $1.91 billion.

Sources: Construction Industry News, The Australian, SBS.

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