Infrastructure Australia has released a 50-year infrastructure plan for the country’s future, said the organization’s latest report to the Council of Australian Governments.
Infrastructure Australia has released a 50-year infrastructure plan for the country's future, said the organization's latest report to the Council of Australian Governments.
“Our aim in preparing this plan has been to provide governments and the community with a clear set of actions to take advantage of the opportunities offered by the growth of the Asian economies over the next half century,” said Infrastructure Australia chairman Sir Rod Eddington AO.
The plan recommends establishing a single national infrastructure fund and moving from grant funding of infrastructure to a system that encourages private investment.
“Establishing a single national infrastructure funding model will help the transition from an infrastructure system that relies heavily on grant-funding to one that encourages private investment,” said Stephen Durkin, chief executive officer of Engineers Australia, which welcomed the plan’s release.
“Australia must avoid the boom/bust infrastructure cycles as seen in recent years. Guidance from independent bodies such as Infrastructure Australia should be a central consideration to deliver outcomes for our communities, independent from the political cycle.”
The report also says the country should sell or long-term lease government infrastructure assets and re-invest the proceeds into new infrastructure; wider application of user pays funding arrangements, especially but not only in the freight sector, but on the proviso that users get a say in scoping new projects; and make improvements to project governance and procurement to reduce the cost of developing new infrastructure.
The plan includes the latest update of Infrastructure Australia’s Infrastructure Priority List.
“Although the projects are important and they capture the attention of the media and other players, it is our ability to implement much needed infrastructure reforms that will determine whether we succeed in capitalizing on the opportunities before us,” concluded Eddington.
Economic and political experts have frequently commented on the similarities of Canada and Australia’s economies and governance structures. Canada is currently lobbying for a long-term infrastructure plan at the federal level.
The report can be downloaded from www.infrastructureaustralia.gov.au.
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