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Record Infrastructure Spending Showing up in the Statistics
The Turnbull Government is spending on infrastructure at record levels – and that spending, combined with state government spending, is showing up in reports published by the Australian Bureau of Statistics (ABS), such as the most recent edition of the ABS’ Engineering Construction Activity, Australia, Mar 2018 (8762.0).
This report gives estimates of the value of engineering construction work done, commenced and yet to be done, across Australia and the funding source of the work. It shows big increases in both the short-term pipeline (engineering construction work commenced) and longer-term pipeline (engineering construction work yet to be done.)
It is clear from the report that we are at a high water mark in the volume of work presently underway on public sector funded transport projects. the value of work done in the most recent quarter was $5.9 billion, an all time record and a 13.5 per cent jump on the comparable quarter last year. Of this, $4.2 billion was spent on roads and $1.6 billion on rail. Compared to the same quarter ten years ago it is a 79.3 per cent increase.
Governments around Australia, lead by the Commonwealth Government, are delivering the vital infrastructure that our nation needs. New road and rail projects mean improved transport linkages, reduced congestion, and the more efficient movement of people and freight. In turn, that boosts our economy, creating more jobs and prosperity.
Record investment in transport infrastructure? It’s not just a political slogan - it’s a reality showing up in the statistics.