NSW and Victoria lead the nation on infrastructure funding
19 November 2019
For the third year running NSW is leading the nation in public infrastructure investment, with Victoria fast closing in second place, according to the 2019 Australian Infrastructure Budget Monitor, released today by industry think tank Infrastructure Partnerships Australia.
“For three years running, NSW has stayed ahead on the national league tables with an impressive infrastructure agenda,” said Infrastructure Partnerships Australia, Chief Executive Adrian Dwyer.
“Over the next four years, NSW will spend more than $71 billion on projects right across the state, 18.4 per cent of total planned budget expenditure.
“Victoria is close on the NSW Government’s heels, with more than $53 billion committed to infrastructure over the next four years, a massive $13.4 billion increase from Victoria’s last budget.
“NSW and Victoria continue to dominate Australia’s infrastructure funding in overall spend and share of total expenditure this year, with both states accounting for 68 per cent of total infrastructure funding across the nation.
“Queensland narrowly retained its third-place ranking this year, with the Northern Territory leading the other jurisdictions in terms of infrastructure funding on a per capita basis,” said Mr Dwyer.
The Australian Infrastructure Budget Monitor shows that $185 billion dollars of taxpayer money is being invested in infrastructure across Australia, with NSW and Victoria contributing a combined total of $125 billion. This is a significant increase on the $153 billion total national funding level seen in the previous year’s Budget Monitor.
“It’s good to see that despite significant revenue pressure, states and territories across Australia have responded to our call to continue pressing the pedal on infrastructure spending,” said Mr Dwyer.
“Australia faces an unprecedented population and productivity growth challenge that must be met with sustained spending on transport, hospital, and school projects right across the country.
“The 2019 Australian Infrastructure Budget Monitor shows states who embrace asset recycling have been able to tap a major pool of otherwise lazy capital for investment in large-scale infrastructure projects.
“While there was no change in Western Australia’s ranking from last year, the McGowan Government is making sensible reforms to sustain higher levels of infrastructure funding in the future.
“The sale of TAB Corp and the partial commercialisation of Landgate will help to bolster infrastructure spending in WA and put the state in a good position for continued economic growth,” said Mr Dwyer.
The 2019 Australian Infrastructure Budget Monitor is available to download here, https://infrastructure.org.au/wp-content/uploads/2019/11/2019-Australian-Infrastructure-Budget-Monitor-2019-EMBARGOED.pdf.
Infrastructure Partnerships Australia is the leading industry think tank for the infrastructure sector, providing independent policy research focused on excellence in social and economic infrastructure.
Key Facts
• NSW has ranked first in the Budget Monitor league tables for the third year running.
• NSW is committing close to $72 billion in general government funding to infrastructure over the forward estimates, representing 18.4 per cent of total planned budget expenditure.
• Victoria has maintained its second place in the rankings this year but is closing in on NSW.
• Victoria is committing $53.7 billion in general government funding to infrastructure, representing 17.4 per cent of total planned budget expenditure.
• Queensland has remained in third place this year and continues to increase its infrastructure funding.
• Queensland is committing $32 billion in general government funding to infrastructure over the forward estimates, representing 12.13 per cent of total planned budget expenditure.
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Source: Infrastructure Partnership Australia - www.infrastructure.org.au
Contact: N/A
External Links: https://infrastructure.org.au/wp-content/uploads/2019/11/2019-Australian-Infrastructure-Budget-Monitor-2019-EMBARGOED.pdf
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