On the right track: finding new ways to finance infrastructure

IDENTIFYING innovative funding and financing opportunities will be one of the issues canvassed by the government agency responsible for infrastructure when they appear before the inquiry into the role of transport connectivity on stimulating development and economic activity in Canberra on Tuesday.

Chair of the House of Representatives Infrastructure, Transport and Cities Committee, Mr John Alexander MP, said the Committee looked forward to hearing from the Department of Infrastructure and Regional Development, particularly on how value capture mechanisms can generate new partial funding streams.

“Funding and financing of infrastructure is an essential part of the planning process, particularly in its impact on transport connectivity,” Mr Alexander said.

“It is no longer possible for governments – state or federal – to be the sole funder of transport infrastructure and it is important to explore financing options for infrastructure that are more efficient and spread the cost fairly.

“By generating new partial funding streams through value capture, it could allow governments to deliver infrastructure projects ahead of schedule.”

Mr Alexander also said that in its submission, the Department of Infrastructure and Regional Development emphasised the need for an integrated land use and infrastructure planning approach, which the Committee looked forward to exploring in further detail.

Hearing details
Date: Tuesday, 15 March 2016
Time: 5.40 - 6.30 pm
Witnesses: Department of Infrastructure and Regional Development
Venue: Committee Room 1R3, Parliament House, Canberra
The public hearing will be webcast live at http://www.aph.gov.au/live

ends