One of the federal government's most ambitious reforms is the release of the country's very first Infrastructure Plan which aims to provide Australia with an investment roadmap.
The 15-year plan undertaken by Infrastructure Australia (IA) sets out 78 recommendations for reform and and is based on an audit of the nation's assets.
The 204-page plan also sets out a priority list of more than 90 potential projects and identifies opportunities for the government to partner with the private sector.
Releasing the plan this week, Infrastructure Australia (IA) chair Mark Birrell said the priority list will be updated regularly throughout the year while the overall plan will be updated at least every five years.
Birrell said Australia can get the infrastructure it needs and improve living standards and productivity, if it acts now to introduce nation-shaping reforms.
“By completing the major reforms to infrastructure markets the average Australian household will be almost $3000 better off every year.” he said.
The Plan recommends reforming the funding and operation of transport infrastructure, completing the national electricity market, improving the quality and competitiveness of the water sector and delivering a telecommunications market that responds to user demand.
Minister for Major Projects, Paul Fletcher, said the government has an extensive infrastructure investment programm with a record investment between 2014–15 and 2019–20—and a strong infrastructure policy agenda.
He said the government will carefully consider the recommendations before announcing a formal response in due course.
A copy of the Australian Infrastructure Plan and the Infrastructure Priority List is available at infrastructureaustralia.gov.au/policy-publications/publications/Australian-Infrastructure-Plan.aspx
The Green Building Council of Australia (GBCA) CEO, Romilly Madew, said the plan provides clarity, certainty and a pathway towards more resilient cities.
“Our cities are growing – and so are congestion and the associated costs and loss of productivity,” she said.
“Infrastructure Australia has previously estimated that the cost of congestion will rise to $53 billion a year by 2031 without significant investment – this plan provides the roadmap we need to kick-start this investment.
"We are particularly pleased to see investment in public transport options being considered in our cities, which will reduce congestion, cut greenhouse gas emissions and improve our health and wellbeing.
“Transparency and long-term planning are critical if we are to get it right in our cities. Decisions on major projects must be made objectively with the best cost-benefit analysis possible to avoid uncertainty when governments change."
Madew said it is essential for the public and private sectors to work together to find innovative mechanisms to finance the infrastructure Australia needs.
"We look forward to continuing the conversation with the Turnbull Government on policies and programs that deliver better connected, more productive and resilient cities,” she said.