The Hon Warren Truss MP The infrastructure backlog in Australia is beyond the capacity of governments to fund on their own. The solution will lie in regulatory reform and a greater role for the private sector, according to the Leader of the National Party, The Hon Warren Truss MP. As we all know, there are various reports around that have put Australia’s infrastructure gap at somewhere between $700 billion and $800 billion. This gap will never be filled entirely. There will always be new projects that come forward, and expenditure needs will always rise beyond our capabilities. We know that we have to invest more and we need to do it now. If we don’t, it’s going to cost Australia dearly. Productivity will continue to decline as congestion rises, impacting on economic growth, not to mention its social toll, adding to the stress and the anxiety of daily life. The Liberal and National parties have already made significant commitments for infrastructure expenditure should we be elected to government. Recent announcements have included commitments towards the East West Link in Melbourne, the M4 East extension in Sydney, and the Gateway Motorway North project in Brisbane. We’ve renewed earlier commitments to the upgrading of the Pacific Highway, the Bruce Highway and the Toowoomba Range Crossing. We’re committed to supporting the Gateway WA project in Perth, the Melbourne to Brisbane railway line, and the Midland Highway in Tasmania. And, of course, there will be much more. 56
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But government budgets at the moment are awash with debt and deficit, and unfilled and unfunded commitments. Clearly, given the sheer size of the task ahead of us and the current budgetary position of the Commonwealth and state governments, government investment alone is not going to be enough. It’s going to take a combination of government and private funds, together with regulatory reform, to enable this investment. As you would all be aware, the government has just begun negotiations with the states and territories about the next federal–state road and rail funding agreement, which is due to commence in 2014. The year 2014 seems to be something of a magical year with this government. Like lots of things lately, the money will not have to be found until after the next election. Nonetheless, there will need to be significant contributions towards funding infrastructure on top of the commitments that are being made, like disability reform, mental health care, dental programs and, of course, education, amongst others. The agreement on the size and priorities of the next federal–state agreement is some way off, but the program needs to be focused on taking productivityenhancing projects from concept to construction, and then completion.
Volume 3 Number 2
3/25/13 12:46 PM
