After repeated calls from the RBA Governor, senior economists, industry leaders and state governments, Scott Morrison has finally announced some road projects will be brought forward in South Australia.
Shadow Minister for Infrastructure and Transport Catherine King said the Prime Minister’s ad-hoc announcement demonstrates he has a political strategy but not an economic plan.
Rather than ad-hoc announcements that try to patch up for underspending, it is in the nation’s economic interests for the Prime Minister to bring forward the budget update and outline a nationwide plan to fast track infrastructure to support the economy that is floundering on his watch.
Today’s drop to the Adelaide Advertiser is just another example of Scott Morrison’s tactic of cobbling together a big number for a headline with little new money to be available in the here and now.
The Prime Minister must clarify how much of the funding in the South Australian package will actually be brought forward to this financial year and assure Australians that no funding has been reallocated from other projects.
The Adelaide Advertiser reports funding to be brought forward for three projects will actually be spread over the next two to three years.
South Australians would recall Scott Morrison’s pre-election budget promised $2.7 billion in extra funding for South Australia. In reality, only $95 million in new funding was allocated over the next four years – just four percent.
The Australian economy needs responsible, proportionate and measured stimulus not a Prime Minister making ad-hoc announcements with little funding in the here and now.
It’s clear the Coalition Government has failed to do the work on a real plan to fast track infrastructure investment and is stuck playing catch up.