THERE’S something very
hollow about Joe Hockey’s attempt to provide leadership to the G20
finance ministers on the need to encourage more private investment in
infrastructure.
hollow about Joe Hockey’s attempt to provide leadership to the G20
finance ministers on the need to encourage more private investment in
infrastructure.
The Treasurer’s aim is laudable – it makes sense for the G20 to
discuss ways of making it easier to unlock billions of dollars in
superannuation funds to bankroll the construction of roads, railways,
ports and other infrastructure.
But there’s a glaring flaw in Hockey’s argument: while he champions
private-sector infrastructure investment, his own government is making
decisions right now that will alienate investors by ending the
transparency in our infrastructure market.
Infrastructure Minister Warren Truss is amending the laws that govern
Infrastructure Australia to gut the existing transparent process for
assessing the nation’s needs.
The new regime will replace the current evidence-based decision-making process with one based on party politics.
Truss’s changes will repel private-sector investors – the opposite of what Hockey says he wants.
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