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NSW‘s asset recycling model helps drive record breaking growth

Scott Powell

Scott Powell, Aurecon Regional Director - NSW

21 June 2017 - According to Scott Powell, NSW Regional Director of global engineering and infrastructure advisory firm, Aurecon, the NSW Government’s successful infrastructure asset recycling programme has played an integral role in the state’s strong economic growth and its current year surplus forecast of $2.7 billion.

“NSW’s long term infrastructure strategy creates a solid pipeline of infrastructure projects that will not only reduce congestion and increase connectivity across its transport infrastructure, but with the growth in investment into social infrastructure, also directly benefit communities and the quality of life for the people of NSW,” said Powell.

Combined with the spending in last year’s budget, the NSW investment in education infrastructure will be $4.2 billion over the next four years. For hospitals, NSW’s investment is expected to be some $7.7 billion in promised funding for hospital and health facilities over the next four years. We see this investment in social infrastructure as an appropriate addition to the ongoing and strong transport investment.

The importance of Western Sydney as an economic hub in its own right is highlighted by the release of a separate “The Western Sydney Overview”. It shows that in addition to the $1 billion allocated to new roads and road upgrades across Western Sydney, work is being done with the Commonwealth Government to secure a $3.6bn funding package to fund the Western Sydney Infrastructure Plan, including scoping a rail connection to the Western Sydney Airport.

“Using asset recycling as a funding method for priority infrastructure has been central to NSW’s infrastructure development plans including through the Restart NSW Fund, said Powell.

“The NSW budget fundamentally shows that asset recycling is a proven model, benefiting not only transport but also social infrastructure such as in health and education,” he said. “NSW’s success is based on a key point of difference: it was the first to create a long term infrastructure pipeline plan with a funding solution built on realising the value of developed assets.

“As a result, the infrastructure plan has successfully freed up funds to improve both transport and ‘social’ congestion in Australia’s fastest growing state.” (Commsec April 2017 Economic Performance Report)

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