Consult Australia has warned infrastructure funding could become a casualty of spending cuts if proper funding mechanisms are not established.
Consult Australia chief executive Megan Motto warned that the lack of a secure schedule of work has left the industry hanging on tenterhooks and that it?s time to get smarter.
Consult Australia is a not-for-profit association that represents business interests of consulting firms operating in the built and natural environment.
Motto said that whichever side of politics prevailed at the election it will be faced with a long list of spending promises and an ever tighter budget.
?The fact is there is just not enough funding available under current Commonwealth and state government arrangements,? Motto said. ?To fund the full list of projects canvassed across both sides of politics, the major parties must move beyond the patchwork of grants and look at alternate policies.?
Capturing Value
Consult Australia in conjunction with member firm Sinclair Knight Merz recently launched Capturing Value, a document that details a policy platform for value capture.
?The return on investment from our highways, rail and urban public transport infrastructure is clear,? said Motto. ?With estimates suggesting some $2.85 for every dollar invested, that alone is a persuasive indicator of the potential for infrastructure to drive productivity. In this context, the potential for value capture mechanisms to contribute to Australia?s urban renewal and public transport funding shortfall is enormous.?
Capturing Value sets out 10 factors for value capture in Australia, establishing a new reference point for a whole of government approach that realises new funding and better value for our investments in infrastructure and urban renewal.
?Alongside calls from across industry for a National Urban Fund, providing seed finance for an infrastructure bond scheme, these types of mechanisms must be explored and adopted,? Ms Motto argued. ?With both sides only able to give mixed commitments to different projects, we again face a politicised list of projects, with no real innovation in funding to support it.?
Source: Consult Australia