Australian Government Welcomes BCA Report
29 November 2013
The Australian Government welcomes the Business Council of Australia's report on infrastructure investment in Australia titled, ‘Securing Investment in Australia' s Future: Infrastructure Funding and Financing’.
Investment in economically productive infrastructure is a key priority for the Australian Government and we welcome the Business Council of Australia’s contribution to helping achieve this objective.
The report makes a number of recommendations to address Australia's infrastructure investment task including greater participation from the private sector.
It is imperative we actively seek to develop alternative finance options to attract more private sector investment into public infrastructure projects.
This is why the Australian Government has tasked the Productivity Commission to look at alternative financing options for projects and to provide recommendations on its findings.
I therefore encourage the Business Council of Australia to actively engage with the Productivity Commission and to provide comprehensive submissions to its inquiry.
The stronger and deeper the submissions received by the Commission from key industry stakeholders, the stronger and deeper its recommendations will be to the Australian Government.
The Australian Government is extremely committed to investing in economically productive infrastructure.
Only 14 per cent of Labor’s stimulus spending was directed to productivity enhancing infrastructure. We are not going to make the same mistakes as our predecessors.
That is why we will continue to work closely with the business community and state governments to deliver the infrastructure of the 21st century.