Enhancing Infrastructure Australia the right move
The Property Council of Australia has welcomed Labor’s plan to strengthen Infrastructure Australia and its role in determining and funding infrastructure projects.
Chief Executive Ken Morrison said the Opposition was on the right track with its plans for Infrastructure Australia announced today.
“Delivering the next generation of key infrastructure is vital to ensure the productivity of our growing cities and an enhanced role for Infrastructure Australia is the right way to make this happen,” Mr Morrison said.
“Strengthening Infrastructure Australia and broadening its mandate to include a capital financing function is a smart approach.
“We wholeheartedly support any move to depoliticise infrastructure project priorities and boost certainty around project delivery.
“Investing in the future of our growing cities has to be a top priority for government – at all levels – and it is extremely encouraging to see this confirmed as a focus for both major parties federally.
“A strong cities policy, supported by the right infrastructure selection and delivery process, will drive new investment, jobs and economic growth.
“The Opposition Leader has identified a number of projects which are obvious candidates for consideration under the enhanced Infrastructure Australia process proposed.
“These projects are currently at various stages of consideration but the most important aspect is ensuring that an independent, rigorous assessment by Infrastructure Australia is central to final decision making.
“Once we get the governance and selection process for infrastructure projects right, public and market confidence will grow and funding will flow to an identified long-term pipeline of priority projects.
“We support greater use of financial innovation to get projects off the ground, including the Commonwealth taking stronger debt and equity positions in projects, user-pay charging, and the need to structure projects that provide attractive and reliable returns to investors.
“Greater pre-planning of projects, to ensure that all required planning approvals are in place for projects ahead of their funding approvals is a particularly vital element for success.”
Media contact: Fiona Benson | M 0407 294 620 | E [email protected]