REQUEST FOR LONG TERM INFRASTRUCTURE SPENDING TO BENEFIT CONTRUCTION

Peak bodies have called on the Australian Government to commit to long-term infrastructure investment across the country, which, if passed, will largely benefit the construction sector.

According to the consortium of eight peak bodies, Australia faces a mounting shortfall in necessary infrastructure and this will lead to productivity issues across the country.

If the government listens, then this will provide some security for the construction sector and its support industries, especially, equipment providers.

The consortium includes: Australian Local Government Association, Institute of Public Works Engineering Australia, National Farmers Federation, Planning Institute Australia, Property Council of Australia and the Urban Development Institute of Australia.

NINE-POINT INFRASTRUCTURE PLAN

As part of the request, the peak bodies have presented a nine-point infrastructure plan which asks the Australian Government to commit to:

  • Investing a minimum of 5 per cent GDP into infrastructure projects that support continued economic growth and boost national productivity,
  • Ensure there is enough capital for ongoing maintenance of government-owned infrastructure,
  • Continue financing Infrastructure Australia’s priorities and strategic plans,
  • Provide funding assistance for community infrastructure obligations,
  • When planning and funding transport needs, use an integrated multi-model approach,
  • Invest strategically in roads, rail, aviation and ports to enhance connectivity,
  • Approach infrastructure investment using long-term, strategic planning,
  • Provide funding for research into road user charges, and
  • Throughout Australia, plan and implement methods to alleviate congestion and transport challenges including better-linking remote housing areas to employment access, which will enhance liveability and economic growth.
REQUEST FOR LONG-TERM INFRASTRUCTURE SPENDING TO BENEFIT CONSTRUCTION

INFRASTRUCTURE SPENDING KEEPS ECONOMIES AFLOAT

In the recent past, infrastructure investment has been a proven economic benefit in Australia. During the 2008 Global Financial Crisis (GFC) when the, then, Australian Government implemented two separate stimulus packages with a combined worth of $52.5 billion. Of that, $26 billion, alone, was allocated for infrastructure expenditure throughout the country. Many economists have said this package kept Australia’s economy buoyant during a time when many other advanced economies plunged into recessions.

Prioritising infrastructure expenditure during the GFC facilitated ongoing employment and expenditure and buffered the resources sector downturn.

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