Experts are calling on the Federal Government to invest in the nation’s infrastructure, as the world faces an energy crisis.
Key points:In the US, Trump has called for a $1 trillion infrastructure investment plan that has not materialisedThe Australian Government has promised to spend $20 billion on infrastructure over the next three yearsThe US Federal Government has pledged $1.5 trillion to US infrastructure over three years, with more money coming from the Federal Reserve as well as the states, with the goal of meeting the 2020 target of building $2 trillion of infrastructure.
The Federal Government, which has not announced a specific investment plan, has said that the money will be used to pay for infrastructure improvements such as roads and bridges.
The Trump administration is expected to announce a $10 trillion infrastructure plan on Monday, with an increase to the $10.5tn total set to be announced later this month.
“It’s a big step in the right direction but we need to invest more in infrastructure, particularly in the US and the US-Europe relationship,” Ms Taylor said.
“The US is a great country, and we need the best and brightest to be part of this plan.”
We need more Australian talent to get the most out of our infrastructure investment.
“Australian experts are also calling on US President Donald Trump to build infrastructure, in order to address the looming global energy shortage.
Professor Stephen Krasner, from the University of Adelaide, said the Trump Administration was “missing out” on a major opportunity to improve infrastructure in the United States.”
There is a huge opportunity here in the Pacific Rim, and it’s a global challenge.
“And if we can bring the US in to play, it would be great for both our economies and for the planet.”
The Federal government has promised $20bn over three months for projects such as road projects, schools, and power grids, with another $30bn earmarked for infrastructure in 2020.
“If the US Government can get $20b in infrastructure spending, and if the US Federal Infrastructure Fund can get more money, it will help us get our infrastructure in place, but it would also mean that if we do get a lot of infrastructure spending we’re not going to get enough of it,” Ms Krasneder said.
Professor Krasnells co-author Professor Robert Jaffe, from George Mason University, said it was important to ensure that the United Kingdom had an opportunity to lead the way in the world.
“They have this huge opportunity and they need to be able to take advantage of it, to lead and to have a role in the global economy,” he said.
He said it would take a “long time” to build a US infrastructure plan, but that the Government was “well-placed to do it”.
“We are in a good position to do that because the Federal infrastructure program is funded by the Treasury, and the Government has the capability to do this and will be able take the steps necessary to do so,” Professor Jaffe said.