Australia must improve its infrastructure, given the nation's rising population, if it wants to protect its economic future, a top infrastructure executive warns.
Infrastructure Australia chairman Mark Birrell believes that “considered and well thought through infrastructure investment is going to be one of the most effective ways for us to achieve and deliver the qualities we want out of economic growth”.
Mr Birrell said “despite recent increases in government spending and increased private sector participation, there is a real gap in the overall quality of Australia’s infrastructure”.
Australia should be in the top 10 nations in the world in terms of infrastructure, but it is rarely regarded as being even in the top 20 today.
“If we keep going this way, our performance will continue to fall behind. Our objective should be as a nation to be a top 10 performer,” Mr Birrell told a Committee for Economic Development of Australia event in Sydney.
Mr Birrell’s comments come a month after IA released a list of high-priority infrastructure projects, together with its first 15-year infrastructure plan.