Australia is poised to spend record amounts on infrastructure.
The question is, how will we spread the spend to ensure we deliver the maximum benefits to more Australians?
Despite the reduction in immigration due to the pandemic, Australia’s population is still projected to increase by almost 12 million people over the next 30 years. That is equivalent to adding a city the size of Canberra every year. Put another way, it equates to adding a city with 150 schools, five hospitals, around 12,000 social housing properties and two correction centres.
With than in mind, the current infrastructure pipeline highlights a critical imbalance.
90% of the proposed projects are in transport. There's no doubt roads and rail are vital, but so too are the emerging priorities like the increasing demand for affordable housing and social infrastructure, transitioning towards the energy mix and upgrading our utility infrastructure. Spreading the spend will bring the broadest benefits to both society and the economy.
As Australia emerges from this crisis stronger and more confident than anyone imagined, now is the moment for genuine collaboration between governments, communities and industry leaders to align around a shared vision for Australia over the next 5, 10, 20 years and beyond.