Time to rethink infrastructure approach

Australia's infrastructure backlog is well-documented. According to recent media reports, The Business Council of Australia and Infrastructure Partnerships Australia estimate Australia's current infrastructure deficit at anywhere between $450 and $700 billion. The critical need for infrastructure building – and re-building, following recent natural disasters around the country – is clear.

Identifying a need, and the ability to meet that need, are two very different things however. Australia's ability to meet its current and future infrastructure needs will depend on a number of factors. Most critical of these is funding. Potential long-term future sources of funding such as superannuation funds have gone on the record as to their willingness to invest in projects, with the right investment framework and allocation of risk. But without a pipeline of projects, they can only sit on their hands.