New South Wales is the leading state when it comes to infrastructure investment for the second year running, according to the Australian Infrastructure Budget Monitor released by industry think tank Infrastructure Partnerships Australia.
Victoria has moved into second place when it comes to infrastructure spending, with Western Australia coming in last.
The Budget Monitor has shown more than $128 billion is being invested in the infrastructure on Australia’s east coast alone.
WA placed last on the table, with just 6.16 per cent of its budget dedicated to infrastructure funding. This is 50 per cent lower than the decade-average funding levels in the state.
Queensland was third on the list, followed by the Northern Territory and the Australian Capital Territory. South Australia ranked sixth with Tasmania in seventh place.
Infrastructure Partnerships Australia Chief Executive Adrian Dwyer said NSW and Victoria have put in the effort on reform to free up money for infrastructure investment, putting them well ahead of the rest of the states.
“Asset recycling, backed by Commonwealth incentives, has driven the infrastructure construction boom in Victoria and NSW. These reforms are never easy, but they are now more urgent than ever given the welcome challenge of continued population growth,” Mr Dwyer said.
“Our population is growing and that puts more pressure on healthcare, education and transport networks right across the country.
“That is why every state and territory needs to keep the pedal pressed on infrastructure funding to meet the demands of population and economic growth,” he said.
Related stories:
- VIC takes over NSW as top performing economy
- Review into Transport for NSW’s contract disclosure process
- More than $87B to be spent on NSW infrastructure