Rudd plans to 'radically invest' in infrastructure

By Terry Ryder, 26th January 2010

Kevin Rudd says the Federal Government is determined to push ahead with major infrastructure projects, AAP reports.

Rudd says the "core challenge" for the Government is dealing with economic problems created by an ageing population, with a quarter of Australians predicted to be aged over 65 by 2050. "We need to grow the economy faster by boosting the productivity of our economy," he told an Australia Day reception.  "That is the only solution forward for Australia. In other words, producing more by making our workforce more productive.”

Rudd said this can be achieved by investing rapidly in infrastructure, in skills and education & training, and by removing as much regulation as possible to allow business to generate more growth. But he commented: "Easy to say, really hard to do."  

Rudd said it’s important to "radically invest" in infrastructure that increased the productivity of the workforce. He cited multi-million dollar investments in a national broadband network, road and rail construction, education and health as examples where the Federal Government would spend heavily over the next few years.

His views are relevant to property investors, as few things create real estate growth more than new infrastructure, particularly road and rail links, as well as new facilities and services in health, education and energy generation.

ENDS