coag fast tracks infrastructure projects

2-October-08 by AAP





Australia's political leaders have moved to fast track big-ticket infrastructure spending to help shield the economy from continuing global financial turmoil.

Prime Minister Kevin Rudd met with state and territory leaders in Perth today, where he agreed to speed up a federal audit of the country's infrastructure needs.

"We believe this is important because of the outstanding infrastructure needs of our nation, both in our cities and our rural and regional areas," Mr Rudd said after the Council of Australian Governments (COAG) meeting.

"And we intend to get on with the job."

Infrastructure Australia will now present its audit and priority list by December, a move applauded by Victorian Premier John Brumby.

"That commitment will enable to commonwealth and the states to work together to bring major infrastructure projects on line earlier than would otherwise have been the case," Mr Brumby said.

COAG also agreed on a timeline to put in place nationally consistent guidelines for public-private partnerships.

More to come...