Australian household are now spending 14.6 per cent of their budget on transport costs. This is the highest percentage since the Index commenced five years ago.
The AAA welcomed the significant increase in spending on land transport infrastructure in the October 2020 federal Budget, with investment increasing from $9.25 billion in 2020-21 to $12.89 billion in 2023-24.
Household transport costs fell in the year of Covid as Australian families spent 4.6% less on transport in 2020 than the previous year. A typical household spent $310 per week on transport, or 12.5% of its income.
The AAA’s final quarterly report benchmarking the performance of the Strategy shows its key targets to reduce road deaths and serious injuries by at least 30 per cent by the end of 2020 have not been met.