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Fed Gov to review multibillion-dollar Infrastructure Investment Program

2022-23 Federal Budget outlines 10-year infrastructure pipeline

The Federal Government has announced that it will undertake a review of its Infrastructure Investment Program which will aim to ensure projects can provide national significance, while also reduce the amount of delayed and unfunded projects.

This 90 day independent review will consultant state, territory and local governments to consider projects which are priorities and assess their deliverability and associated costs. This review will be undertaken by Reece Waldock, Clare Gardiner-Barnes and Mike Mrdak.

It is hoped that this review will also increase the functionality of the infrastructure investment pipeline, meaning project stakeholders can have greater confidence in the deliverability and budgets for each project.

Minister for Infrastructure, Transport, Regional Development and Local Government, Catherine King said the easing the pressure on the sector will help to reduce inflation and develop more predictable investment and outcomes for projects.


 

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“Communities will benefit from national significant infrastructure with shorter and safer travel, more liveable cities, suburbs and regions, while the economy benefits from the certainty brought by a smoother delivery of investment matched to project timelines,” King said.

“Importantly for industry, projects under construction will proceed and we have committed to maintain significant infrastructure investment for the medium term.”

Engineers Australia’s Romilly Madew AO says reviewing this pipeline will provide an opportunity to target investment to ensure best value for money is achieved.

“This is critical to helping ensure spending doesn’t further fuel current economic challenges,” Madew said.

“Australia’s construction sector is already at breaking point, rising materials costs and labour shortages has caused budgets to blow out and project slippage.

“Over the past two years, engineering vacancies have grown by 80 per cent nationally. A significant contributor to this increase is infrastructure projects.”

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