The Queensland Major Contractors Association (QMCA) has expressed serious concerns regarding the recent statements from the Commonwealth Government suggesting possible reductions in infrastructure funding in the wake of the much-delayed Federal Review of the nation’s infrastructure pipeline.
“QMCA recognises the delicate balance required to foster economic growth without exacerbating inflationary pressures,” said CEO Andrew Chapman.
“However, this does not mean a razor should be taken to vital projects that will have long-term economic benefits, particularly in Queensland, which is experiencing significant economic and population growth, the continuation of which will require investment in infrastructure to support and sustain.”
QMCA suggests that the Commonwealth Government could find substantial savings by re-evaluating projects in New South Wales and Victoria, states that have benefitted from decades of investment and have multiple multi-year mega projects already in delivery.
“Considerable investments to support growth in New South Wales and Victoria have yielded vital infrastructure; it should now be Queensland’s time to be the beneficiaries of economically transformative infrastructure investment.”
“The Commonwealth Government could find substantial savings by re-evaluating the timeframes and investment in projects such as Suburban Rail Loop in Melbourne, which has an estimated delivery cost of $50 billion (and debatable benefits).”
“Without steadfast funding commitments, economic growth may falter, undermining the state’s ability to provide housing, employment, and a legacy for burgeoning industries. Such a situation could also detract from the success of the 2032 Olympic Games, where global attention will be fixed on Queensland.”
The forthcoming 2023 QMCA CSQ Major Projects Pipeline Report, to be launched on the 15th of November, underscores the expanding infrastructure opportunities within Queensland.
“Fundamentally, the Commonwealth Government must prioritise infrastructure investments that bolster economic growth in regions that benefit the most, such as Queensland. However, with the comments coming out of Canberra and a significant delay on the release of the review, there is genuine concern in the industry that vital infrastructure projects that support economic growth will be stalled.”
“Funding should not favour projects in economically saturated areas with questionable benefits, and should not be made for political gain, but to address genuine need,” said Andrew.
