Last week, the Federal Minister for Infrastructure and Transport, Anthony Albanese, dropped a very significant figure into the stream of speeches and press releases he issues each day.
According to new data compiled by the Bureau of Infrastructure, Transport and Regional Economics (BITRE), current investments in the nation’s highways, interstate rail network and urban public transport systems will deliver an economic return of $2.65 on every $1 now being spent.
As Federal and State Treasurers grapple with how to balance their budgets and promote economic growth, analysis like this is what’s needed to keep infrastructure investment flowing.
Public infrastructure investment is amongst some of the most useful things that any government can deliver.
