The Australian Government has a well-established Infrastructure Investment Program (IIP) aimed at improving the productivity of Australia's land transport networks. This includes increasing the capacity of our regions and major cities by connecting people and products to employment and markets safely and efficiently. The Australian Government's investments are based on long-term planning, and robust project identification and selection processes, to achieve the best outcomes for the national economy and regional and urban communities. It is designed to ensure that Australia's national land transport system is increasingly better placed to meet future challenges.
Initiatives under the IIP that target specific policy issues include the National Rail Program, Faster Rail and the Roads of Strategic Importance initiative. For instance, the Major Project Business Case Fund initiative provides funding for business cases to allow the Australian Government to ensure major projects deliver the best economic returns, and also benefits for users and the wider community. Early intervention allows the Australian Government to have a say in how tax payers' funds are invested and help ensure it is achieving value for money, not only for a specific project, but by also driving broader policy objectives, such as urban renewal and affordable housing.
Other infrastructure investment initiatives not under the IIP include Australian Rail Track Corporation—a public company owned by the Australian Government to develop and manage the interstate freight rail track—and the Moorebank Intermodal Terminal Projects