The Infrastructure Australia Bill 2008 (Cth) was introduced into the House of Representatives and received its second reading speech on 21 February 2008.
Once enacted the Bill will establish an independent statutory authority called Infrastructure Australia to develop a strategic blueprint for the nation's infrastructure needs.
What Will Be The Functions Of Infrastructure Australia?
Infrastructure Australia's primary functions will be to provide strategic policy advice to all levels of government, investors and owners of infrastructure assets and services. This will include advice on:
- Australia's current and future infrastructure needs;
- policy issues that may impact on infrastructure;
- suggested reforms; and
- mechanisms for financing infrastructure.
Special importance is given to what is termed nationally significant infrastructure. According to the explanatory memorandum, this includes transport, energy, communications and water projects, all sectors that are likely to have a significant impact on helping the country sustain long-term economic growth.
Creation Of Infrastructure Priority Lists And Commonwealth Funding
It is proposed that Infrastructure Australia will also audit the adequacy, capacity and condition of nationally significant infrastructure.
Infrastructure Australia will develop lists called Infrastructure Priority Lists that will prioritise Australia's infrastructure needs. It will review Commonwealth funding to ensure that it is consistent with the Infrastructure Priority Lists.
Who Will Be Appointed To Infrastructure Australia?
The Infrastructure Australia Board will consist of twelve members appointed by the Federal Infrastructure Minister Anthony Albanese Minister who announced today that Sir Rod Eddington will be the Chair of Infrastructure Australia.
All members will be appointed for terms not exceeding three years. The Board will compromise of five members from the private sector (including Sir Rod Eddington), three from the Commonwealth, three from the states and one other from local government.
This will ensure all interests groups are given a voice on the national approach to infrastructure delivery.
