In another blow to the Government’s inertia on the economy, the Masters Builders today joined calls for a fast track of infrastructure investment.
Addressing a Summit at Parliament House, Master Builders CEO Denita Wawn backed calls from the RBA Governor, State Governments and Labor for the Federal Government to bring forward infrastructure spending to stimulate the sluggish economy:
“That’s why we again today (sic) calling on the government to bring forward construction of infrastructure. Yes there are some capacity pressures from mega-projects in Melbourne and Sydney but that’s not the case Perth, Darwin, Adelaide or the regions.”
“There’s also plenty of capacity and capability in our industry to construct local urban transport and social infrastructure, and it’s with these smaller projects that the PM can draw on capacity of smaller contractors – a call that Master Builders backs 100 per cent.”
Masters Builders CEO Denita Wawn, 10 September 2019
The Master Builders pleas mirror the calls from the RBA Governor who has on seven occasions since the May election called for the Government to fast track infrastructure investment.
Appearing before the House Economics Committee last month, Dr Lowe also directed the Federal Government to look outside Sydney and Melbourne where there is capacity to do more to support jobs and boost productivity:
“I encourage governments to look at the possibility of a series of smaller projects – they’re not as big as building a metro in Sydney – but they can be more widely dispersed across the country and that can help us all.”
“There may not be for the big megaprojects in Sydney and Melbourne but right across the country there is the capacity to do more infrastructure spending that would make people’s lives better.”
RBA Governor Lowe, 9 August 2019
Prime Minister Morrison is wilfully ignoring the RBA Governor’s expert evidence. Will he also ignore the pleas from the Master Builders on the need for a real plan to bring forward infrastructure investment?
Australia is experiencing the slowest economic growth since the Global Financial Crisis – wages are stagnant, underemployment is at record highs and the world economy is teetering.
Good governments invest in infrastructure to improve the lives of all Australians and boost our economy – as Labor did in Government.
This third-term Liberal Nationals Government must change course and start taking infrastructure investment seriously.