The Treasurer described the 2022-2023 October Federal Budget as ‘more resilient, more inclusive and more modern’, reflecting upon the need for our times of great challenge and great change. Although he announced a revised deficit of $36.9b, with interest rates still rising the cost of providing the nominated expenditure in the Budget will continue to cost more. Although global uncertainty may plague the 2022-23 Federal Budget, it seems this may not apply to the infrastructure industry. The government emphasised that the development of infrastructure is an important driver for economic growth, productivity and skills – and has committed $9.6b for projects across Australia as a protective measure to buffer the impact of a global downturn. Read the IAQ 2022/2023 October Federal Budget Statement here.