INFRASTRUCTURE and transport minister Katherine King on Monday (1 May) announced a 90-day review of Australia’s Infrastructure Investment Program.
“We are maintaining our strong commitment to a 10-year $120 billion infrastructure pipeline, whilst ensuring the land transport infrastructure projects we deliver are nationally significant, and nation-shaping projects,” Ms King said in a statement.
“The proper management of the $120 billion infrastructure investment pipeline should lead to projects that are able to be built, that have a lasting benefit for Australia, and enhance our economic and social productivity and prosperity.”
This review will be undertaken by Reece Waldock, Clare Gardiner-Barnes and Mike Mrdak.
Ms King said a properly functioning infrastructure investment pipeline means projects can be delivered with more confidence about timeframes and budgets.
“Easing the pressure on the construction sector will help drive inflation lower and deliver more predictable investment and delivery outcomes from governments,” she said.
“Importantly for industry, projects under construction will proceed and we have committed to maintain significant infrastructure investment for the medium term.
“It is time to clean up the mess left by the Liberals and Nationals clogging the pipeline with ‘press release projects’ – announced but unable to be delivered.
However, shadow minister for infrastructure, transport and regional development Bridget McKenzie said the review would be a “razor gang” cutting road and rail infrastructure projects.
“Continually cutting back on infrastructure projects will be a handbrake on economic growth and a barrier to driving national efficiencies needed to support budget repair and tackling inflation,” Ms McKenzie said.
“While taking the razor to infrastructure projects, Labor is failing to address the structural challenges on the spending side of the budget, ignoring the advice of key economic commentators.”
Ms McKenzie said, “Regional roads of strategic freight importance and congestion-busting urban road projects have been specifically singled out, but nothing in the 10-year infrastructure pipeline can be considered safe from the axe”.
