Organisation will be reformed under a Coalition government, Nationals leader pledges
July 25, 2013
Infrastructure Australia will be reformed under a Coalition government, the Opposition’s infrastructure and transport spokesman, Warren Truss, pledges.
The Nationals leader promises, in an Infrastructure Partnerships Australia Symposium speech in Sydney, to inject more independence, rigour, flexibility and transparency into the organisation if his side wins the election.
In line with a keener focus on private sector involvement in infrastructure funding, the organisation will gain a dedicated Funding and Finance Advisory Unit, “tasked with evaluating finance options for nationally-significant infrastructure projects and investigate and report on funding models”.
“The Coalition intends this Unit to harness expertise to assist a diverse array of projects in coming to market, using models that are tailor-made for the project at hand,” Truss says.
“Whether it be a significant road or rail upgrade, a greenfield port development or the expansion of a major regional airport, we need to look at the capability of each project to leveraging private sector investment.”
There will be other, more-structural changes.
“Under a Coalition Government, Infrastructure Australia will be led by a Chief Executive Officer, responsible to the Infrastructure Australia Board. In line with other government boards, the new CEO position will be responsible for delivering the strategic objectives of Infrastructure Australia,” Truss says.
“Infrastructure Australia will be tasked with developing a 15-year pipeline of major infrastructure projects to be revised every five years based on national, state and local infrastructure priorities.
“That’s about better coordinating long-term projects, better planning and giving greater certainty to investors and the construction sector.
“The Coalition will also task Infrastructure Australia with undertaking a new, evidence-based audit of our infrastructure asset base, to be run in collaboration with the states and territories. This audit will also be revised every five years and will help inform the 15-year pipeline.
“We believe a reformed Infrastructure Australia should take a much more proactive role in identifying the infrastructure priorities our nation needs, with an evidence-based audit being an essential precursor.”
