Government, Trades, Logistics - Aussie Infrastructure Needs Billions
The independent body studying Australia's aging infrastructure says at least AU$600 Billion in new spending will be needed to keep up with demand over the next 15 years.
"On the infrastructure priority list there are already 103 initiatives sitting there that have been identified by the states and territories, and that means there is a pipeline of infrastructure that has been identified that could go," said Romilly Madew, the head of Infrastructure Australia.
The group has produced an audit which determined that infrastructure is being particularly stretched in the places where the country's population boom is occurring: On the fringes of Sydney, Melbourne, Brisbane, and Perth, Australia four largest cities. These areas will be schools, hospitals, and parks. Without action to manage the growth, the cost of road congestion will grow from $18.9 Billion to $38.8 Billion in 2031.
"Population growth offers enormous economic opportunities but the risk is that our infrastructure fails to keep pace with demand, and this impacts productivity, quality of life and the liveability of our cities and regional centres," Madew said