What Will Bolster Australia’s 1 Comment Economy?€¦ · The 201516 Federal Budget outlines...

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advertisement More Construction The 201516 Federal Budget outlines projects including upgrades of the Bruce and Pacific Highways, a new Western Sydney Airport and supporting roads package, a $300 million Bridges Renewal Programme and $350 million allocated for construction and maintenance of local roads. Treasurer Joe Hockey claims his Government is “rolling out the biggest infrastructure programme in Australia’s history, with new road and freight corridors being built right across the country.” Northern Australia is atop the agenda with a The Federal Government describes itself as “nation building” and in its recent budget says it’s investing to build worldclass infrastructure for a stronger Australia. But is it enough? What Will Bolster Australia’s Economy? 1 Comment Add your comment to this story 25 SHARED THIS Contributor: Sarah Bachmann Published: 23 June 2015 Engineers Can Capitalize on Australia’s Sluggish Transportation Key sectors of the Australian economy could be hard... Chinese Infrastructure Projects Flounder Domestic steel manufacturing in Australia Is Australia’s Steel Industry Doomed? Wednesday, June 24

Transcript of What Will Bolster Australia’s 1 Comment Economy?€¦ · The 201516 Federal Budget outlines...

Page 1: What Will Bolster Australia’s 1 Comment Economy?€¦ · The 201516 Federal Budget outlines projects including upgrades of the Bruce and Pacific Highways, a new Western Sydney Airport

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MoreConstructionThe  201516  Federal  Budget  outlines

projects  including  upgrades  of  the  Bruceand  Pacific  Highways,  a  new  WesternSydney  Airport  and  supporting  roadspackage,  a  $300  million  Bridges  RenewalProgramme  and  $350 million  allocated  forconstruction  and  maintenance  of  localroads.

Treasurer  Joe  Hockey  claims  hisGovernment  is  “rolling  out  the  biggestinfrastructure  programme  in  Australia’shistory, with new road and freight corridorsbeing built right across the country.”

Northern Australia is atop the agenda with a

The Federal Government describesitself as “nation building” and in itsrecent budget says it’s investing tobuild worldclass infrastructure for astronger Australia. But is it enough?

What Will Bolster Australia’sEconomy?1 Comment

Add your comment to this story

   

   

   

   

   

 

25SHARED

THIS

 

Contributor:SarahBachmannPublished: 23June 2015

Engineers CanCapitalize onAustralia’sSluggishTransportation

Key sectorsof theAustralianeconomycould behard...

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Domesticsteelmanufacturing

in Australia

Is Australia’s SteelIndustry Doomed?

Wednesday, June 24

Page 2: What Will Bolster Australia’s 1 Comment Economy?€¦ · The 201516 Federal Budget outlines projects including upgrades of the Bruce and Pacific Highways, a new Western Sydney Airport

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Some of the 22,000 precast concrete segments for the Narrows

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Image courtesy NPCAA

Northern Australia is atop the agenda with anew  $5  billion  Northern  AustraliaInfrastructure  Facility.  The  Governmentplans to partner with the private sector andstate governments of Western Australia, theNorthern  Territory  and  Queensland.  Itpromises  large  concessional  loans  for  theconstruction  of  ports,  pipelines,  electricityand water infrastructure.

But at a  time when  the unemployment rateis a relatively high 6.1 per cent and interestrates  are  at  an  alltime  low, now  should bethe  time  to  borrow  big  and  give  oureconomy  a  vital  boost  through  even  moreinfrastructure.  Cashstrapped  governmentsare loath to increase debt or raise taxes butinfrastructure  spending  can  significantlyboost growth.  It’s a winwin. Not only doesthe  infrastructure  provide  jobs,  but  thegovernment  gets  income  tax  from  theworkers  and  communities  get  betterfacilities for the future. But there’s a catch –any spending on infrastructure has to be onthe right projects.

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Page 3: What Will Bolster Australia’s 1 Comment Economy?€¦ · The 201516 Federal Budget outlines projects including upgrades of the Bruce and Pacific Highways, a new Western Sydney Airport

The  Productivity  Commission  InquiryReport  into  Public  Infrastructure  (handeddown last year) found that although efficientinfrastructure  provides  services  that  bothimprove productivity and the quality of life,poorly  chosen  infrastructure  can  do  theopposite  by  reducing  productivity  andfinancially  burdening  the  community  fordecades.  The  Commission  highlights  justhow  important  it  is  to  properly  assess  andprioritise infrastructure investments.

To  that  aim,  Infrastructure  Australia  hasjust  completed  its Australian  InfrastructureAudit  Report.  It  found  some massive  gaps.Urban transport service quality is at the topof the list, as is the quality and reliability ofwater services in some rural towns. That’s agood  place  to  start  with  infrastructureimprovements. In a country as developed asAustralia,  every  community  should  have  areliable and good quality water supply.

Another issue raised by the audit is the needfor  integrated  infrastructure  and  landuseplanning  across  all  levels  of  government.You’d  think  that  would  be  a  given,  butinstead  all  levels  of  government  are  failingto  meet  community  expectations  forstrategic  decisionmaking.  We  should  bedemanding better.

The  audit  has  found  so  many  areas  thatcould  benefit  from  funding.  Just  anotherexample  is  the  demand  for  key  urban  roadand  rail  corridors.  Current  projectionsindicate  demand  will  significantly  exceedcurrent  capacity  by  2031.  That’s  only  16

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Page 4: What Will Bolster Australia’s 1 Comment Economy?€¦ · The 201516 Federal Budget outlines projects including upgrades of the Bruce and Pacific Highways, a new Western Sydney Airport

It’s  time  to  prioritise,  borrow  and  build,engage with local communities and have ourthree tiers of government working efficientlytogether.  We  need  to  invest  in  essentialfacilities  and  services    better  roads,  rail,harbours,  water,  power,  hospitals  andschools. While  interest rates are so  low,  it’sthe  ideal  time to borrow billions and  investin Australia.

Published on 23 June 2015

CONTRIBUTED BY:Sarah BachmannSarah has been in her current role of CEO of theNational Precast Concrete Association for the last 11years. Now running the Association’s national officefrom Adelaide, she has spent 16 years in state andnational association management roles and 10 in seniormarketing/public affairs positions,...

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