The Future of Infrastructure
High quality infrastructure is a key enabler of industry growth, productivity and the attraction of investment. Access to infrastructure is also fundamental to ensuring the whole community can contribute to, and share in, WA’s wealth and quality of life.
WA governments have invested a record $43 billion in infrastructure over the past decade, and despite this infrastructure constraints remain a challenge for the economy.
Infrastructure Australia’s 2015 Audit says Perth will overtake Sydney as the nation’s most congested city by 2031 at a cost of more than $16 billion a year.
It identified the Mitchell Freeway as the nation's worst road corridor for delayed costs in millions (by lane kilometre versus economic contribution) with WA roads filling the top four positions.
CCI’s Future of Infrastructure paper calls on the State Government to look to the private sector as a ‘white knight’ capable of rising to meet WA’s growing infrastructure demands.
CCI Chief Executive Deidre Willmott said ensuring WA had access to world-class infrastructure was an important part of achieving CCI’s vision for WA to be a world leading place to live and do business.
“There is a clear need to invest in infrastructure, but the State Government’s ability to directly fund this will be limited by constraints in its budget position, created through strong growth in spending, a more volatile revenue base and record levels of debt,” Ms Willmott said.
“The private sector should play an important role in financing, designing, building, operating and maintaining infrastructure, to ensure the State’s needs are met in a fiscally constrained environment.”