Labor welcomes the creation of a G20 infrastructure hub in Sydney.
It’s no surprise that Australia has been chosen as the location given that the creation of Infrastructure Australia in 2008 has been identified as world’s best practice and imitated not only by state governments, but also by New Zealand, the UK and other European nations.
Looking at best-practice models to invest in infrastructure is a good thing.
This global think tank will look at best practice around the world when it comes to securing infrastructure investment and analyse the suitability of its replication in other jurisdictions.
Australia went from 20th among OECD nations in terms of investment in infrastructure as a proportion of GDP in 2007 to 1st when the former Labor Government left office.
The new Government must take infrastructure investment as a driver of economic growth seriously.
This means not taking investment away from projects like Brisbane’s Cross River Rail project and the Melbourne Metro, which were properly assessed by Infrastructure Australia and found to be certain to lift economic productivity.
It also means not committing to major new projects until they have been the subject of proper cost-benefit analysis ticked off by Infrastructure Australia