Newsletter #434 (View other news stories)
Report tackles infrastructure big picture
Melbourne, Victoria, Australia
Thursday, 29 Oct 2009
 BCA Sustainable Growth Task Force chairman Rod Pearse. |
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A report launched by the Business Council of Australia (BCA) this week highlights the need to take a long-term view of Australia’s growth.
According to BCA Sustainable Growth Task Force chairman Rod Pearse, Australia has a unique opportunity to confront its infrastructure challenges ahead of the next wave of Australian growth.
"We have an opportunity to lay the groundwork for sustainable growth over the next decade by setting a clear national ambition for Australia’s growth and by planning for the infrastructure to support it.
"Both the federal and state governments understand the significance of infrastructure supporting future growth.
"Now we must put in place the infrastructure reforms required to improve both our economy and the quality of life in our cities and communities."
The report warns that as economic growth returns and the population continues to expand, infrastructure bottlenecks that appeared towards the end of the last boom are certain to reappear.
Infrastructure efficiency and capacity is vital to Australia because of its small and dispersed population and distance from markets.
The BCA report sets out the three additional priorities to address Australia’s infrastructure challenges:
• Make better use of existing infrastructure and improve investment signals.
• Improve infrastructure and project planning, so that investments achieve clearly defined objectives.
• Transparent measurement of progress in improving infrastructure delivery.
It recommends that the capacity of Australia’s infrastructure to support growth should receive a regular independent audit by the Productivity Commission.
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