Victoria shows what an 'Infrastructure Budget' looks like

09 May 2017

IPA: The Victorian budget doubles real infrastructure funding compared to the decade average – providing firm dollars to back its projects, off the back of continuing asset recycling and other reforms, said Infrastructure Partnerships Australia.

“The Victorian budget puts firm dollars behind real projects, doubling funding and showing what a real ‘infrastructure budget’ looks like,” said Chief Executive Brendan Lyon.

“The confirmation that the state’s land titles registry will be leased to the private sector continues the asset recycling that sees Victoria and New South Wales miles ahead of the others on infrastructure.

“The Federal Governments should be studying Victoria’s budget closely, as they prepare to release their own ‘infrastructure budget’ next week.

“Victoria is able to put real money behind real projects because it’s been prepared to recycle taxpayer’s money out of existing assets like the port and now the land titles registry, to pay for major new projects like the Melbourne Metro and other railways, level crossing removals and long needed motorways.

“Victoria has done hard reforms like asset recycling to find the money it needs, allowing it to markedly increase firm dollar funding.

“Victoria doesn’t need to rely on ‘innovative financing’ or ‘value capture’, because it’s found real money.

“Canberra’s ambition to do more on infrastructure is welcome, but it has to be backed with real funding from the budget, not ‘innovative finance’ or government loans that cannot be repaid.”

 

--ENDS--

 

Source:  Infrastructure Partnerships Australia - wwww.infrastructure.org.au

Contact:  Sarah Dagg T 0438 380 464

External Links:  N/A

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