Treasurer Andrew Barr said the $735 million allocated to capital expenditure for 2014-15 was also a record and that it was about "jobs, jobs (and) jobs".

The biggest single ticket item in the years to come is the $600 million Capital Metro project with $21.3 million allocated in 2014-15. Another $20 million has been allocated to improve the Gungahlin to City corridor in anticipation of the light rail coming on line.

It is followed closely by the new non-acute hospital for the University of Canberra, which is expected to cost much more than $100 million over the forward estimates, and the new law courts. Other major health spends include $43.5 million for a secure mental health unit, $19.1 million for a new car park at Calvary Hospital and $1.6 million for another 15 beds at Calvary.

One of the largest projects for which a specific cost has been given is the new Coombs Primary School, which will house about 720 students from preschool to year 6 when it opens in August 2016. Of the more than $47 million that has been set aside, $29.84 million is to be spent in 2014-15.

This is only slightly less than the $54.1 million that has been allocated over the next two years for the construction of a new 30-cell special care centre and a 56 flexible accommodation cell block at the Alexander Maconochie Centre.

This is not to play down the value of capital expenditure in health, transport and other infrastructure across all parts of the ACT as Mr Barr has indicated $122.7 million would be spent on more than 40 different construction projects in the 2014-15 financial year alone.

The spending on these projects will jump to $160.4 million in 2015-16 and will be funded partly through borrowings, asset sales (asset recycling is the present euphemism) and normal revenue streams.

Another big ticket item is the investment of $20.9 million for a "co-located" ambulance and fire station at Aranda.

Also significant is the $10.2 million to be spent on upgrading the spillway of the Isabella Weir on the Tuggeranong Creek to guarantee water quality and address flood safety issues.

While the initial allocation of $1.5 million to the Australia Forum convention centre development is not a large amount, it is significant in that it will bring the project to investment ready status by June 2015. Provision has been made for a further $8 million to drive the project, which is intended to help boost the ACT economy.

City to the Lake has also received a boost and $2.75 million has been set aside for design work to lower Parkes Way. This will "help realise the connection between the city centre and Lake Burley Griffin", Mr Barr said.

Sports and aquatics enthusiasts have not been ignored as $3 million will be spent over two years on the Lyneham Sports precinct and $600,000 allocated as seed funding for the Tuggeranong Lake Leisure Centre. Environmental expenditure includes $462,000 over three years for extensions to the Gungaderra and Mulungarra Nature Reserves.

Another $1.2 million has been budgeted for the replacement of an asbestos disposal site at Mugga Lane.