First National Infrastructure Audit released

Media Release

JB060/2015

22 May 2015

Joint release with:

The Hon Tony Abbott MP

Prime Minister

The Commonwealth Government welcomes the release of Australia's first national audit on infrastructure, undertaken by Infrastructure Australia.

The audit shows the economic imperative of fixing our road and transport networks in our major cities. This audit is a first for Australia and will drive action on infrastructure investment by revealing the costs of inaction.

For example, road congestion in Australia is currently costing some $13.7 billion per year. If we don't take action, the cost will be $53 billion a year by 2031.

The Government has already taken significant steps to address our nation's infrastructure backlog, after years of under-funding by previous governments.

Last year, the Commonwealth Government embarked upon the biggest infrastructure investment programme in our nation's history, with a $50 billion infrastructure package that is improving road and rail links in every state.

Investing in the right infrastructure will support Australia's economic growth and unlock our economic potential.

Our Asset Recycling Initiative is freeing up states to invest in a range of productive infrastructure.

All levels of government need to work with the private sector to build more and plan to deliver innovative congestion-busting projects that eliminate traffic gridlock and transform our cities.

The Commonwealth Government has delivered on our election commitment to rebuild Infrastructure Australia into a more robust and independent authority to facilitate smarter infrastructure investment and delivery by governments and the private sector.

Later this year, we will release Infrastructure Australia's 15 year plan which will outline our infrastructure priorities to ensure we build a stronger and more prosperous future.

The Commonwealth invites the states and territories to support the development of this 15 year plan, because Australians want governments to work together to make their lives and their transport systems better.

A copy of the audit is available at: http://www.infrastructureaustralia.gov.au/