I welcome today’s release of Infrastructure Australia’s fifth annual report to the Council of Australian Governments (COAG), which sets out the pipeline of projects and policy reforms it believes will secure Australia’s prosperity in the 21st Century.
This report marks the first five years of Infrastructure Australia and acknowledges the improvements to infrastructure planning and development that have occurred.
The report also updates the National Infrastructure Priority List of projects which have been rigorously assessed and found to offer the highest economic, social and environmental returns.
As a result of this year’s Budget, all ‘ready to proceed’ projects identified by Infrastructure Australia since its establishment in 2008 have received Federal funding commitments.
This year a record 79 project proposals were submitted for assessment and the number of projects added to the priority list more than doubled.
Federal Labor recognises the importance of getting the investment decisions right which is why we established Infrastructure Australia and continue to deliver reforms that complement our $60 billion Nation Building Program.
I congratulate Sir Rod Eddington, his fellow Council members and the staff of Infrastructure Australia on continuing to drive lasting reforms to the way our nation plans, finances, builds and uses the infrastructure which makes people’s lives easier, our businesses more competitive and the Australian economy more productive.
The 2013 report – National Infrastructure Plan exemplifies the important role that Infrastructure Australia continues to perform, providing leadership in developing a long-term, evidence-based approach to infrastructure reforms and investment.
For this year’s full report to COAG, go to: www.infrastructureaustralia.gov.au.