The Victorian Government's Better Roads Victoria Trust Account provides funding for road improvements across Victoria
The State Government makes payments into the Better Roads Victoria Trust Account along with the revenues from the increase in registration renewals of $17 per vehicle that was announced in the May 2003 budget. Ongoing annual indexation applied to registration reviews ensures that the real value of the payments is maintained.
Additionally, from 1 July 2005, revenue raised from traffic cameras and on the spot speeding fines was channelled into constructing and maintaining Victoria’s roads within the meaning of the Road Management Act 2004, road safety initiatives, and traffic and transport integration programs through the Better Roads Victoria Trust Account.
Under the Better Roads Victoria program there is a special emphasis on projects which will contribute to economic development by reducing transport costs for business and improving the efficiency of our roads. As well, projects funded under the program will:
- improve safety for all road users and make travelling more comfortable
- improve access for local communities
- create much-needed jobs in the construction industry and related support industries
- encourage further tourism.
One third of the trust account is being spent on roads in country Victoria.
Asset investment expenditure is reported in the annual budget papers so Victorians can see that their money is being spent where it is most needed.