14 May 2014
The federal budget’s commitment to fund new infrastructure will help future growth across Australia, says the Urban Taskforce.
“While the federal budget takes some tough decisions to prepare for Australia’s future, it is pleasing to see that there are strong commitments to building the infrastructure that will facilitate urban growth,” says Urban Taskforce CEO, Chris Johnson. “By adding $11.6 billion for infrastructure including $2.9 billion for major road upgrades in Western Sydney, the framework for future growth is established.”
“The commitment of $5 billion for an Asset Recycling Fund to provide financial incentives to the States and Territories to sell assets to the private sector and then reinvest the sale proceeds into new infrastructure that supports new urban development is a positive move.”
“The Federal Government has made it clear that they will fund major road infrastructure and the States will need to fund public transport infrastructure. This is a clear message to State Governments that they are the drivers of urban growth in cities and that they need to use asset sale proceeds to fund public transport projects.”
“With Australia’s population increasing at around 400,000 people a year the Federal Government will need to allocate funds to States and Councils who support growth particularly with appropriate urban density. While the Federal Government is moving out of housing production policies so that States take the lead role, it is important that pro-growth States and Councils are the recipients of funding grants.”
“Western Sydney has done well in this budget with the Western Sydney Infrastructure Plan and the recent announcement of the new airport at Badgerys Creek. The NSW Government needs to now get its Metropolitan Strategy for Sydney finalised and resolve the structure of councils across Metropolitan Sydney to build on the Federal Government commitments.”
