Eight infrastructure and construction industry bodies have joined forces to call on political parties to make a commitment to maintaining long-term infrastructure spending ahead of the July election.
The eight peak bodies include the Australian Local Government Association, Institute of Public Works Engineering Australasia, Planning Institute of Australia, Australian Logistics Council, Urban Development Institute of Australia, Property Council of Australia, National Farmer's Federation and Green Building Council of Australia.
While commending the Government on the steps taken towards accelerating major infrastructure projects, they highlighted concerns about the risk to Australia's economic growth posed by “years of under-investment in public infrastructure”, which has reportedly led to much of the nation's infrastructure failing to meet the needs of Australian businesses and communities.
The organisations reportedly agreed that, “now is the time to take a long-term, strategic view of infrastructure investment to ensure Australia's cities and regions remain competitive, liveable and sustainable”.
The joint statement calls for investing “no less than five per cent of GDP” into productive infrastructure projects that support continued economic growth and boost national productivity and address what is called a “funding shortfall” for maintenance of government-owned infrastructure.
The statement also recommends adopting “an integrated multi-modal approach to transport planning and funding” and strategic investment in roads and rail.