Renewal of Local Infrastructure in Regional Australia
A new national organisation dedicated to catalysing renewal in local infrastructure represents the most promising public policy for tackling the local government infrastructure shortfall.
To effectively address the policy problem, this organisation must fulfill three main functions:
- Provide Australian local government with access to private sector capital for infrastructure renewal in the most efficacious and cost-effective manner possible.
- Provide local authorities lacking adequate capacity with advice and assistance to overcome the local infrastructure shortfall and engage in effective infrastructure planning, investment and management.
- Provide policy makers with adequate and accurate information on the distribution and magnitude of the local infrastructure backlog, as well as policy advice on the best methods of addressing the backlog consistent with national and state infrastructure priorities.
International experience suggests that the establishment of this organisation will be both low cost and low risk. The initiative can also be 'budget neutral' if delivered from existing Australian Government funding allocated to regional infrastructure.
