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8 December 2020
At the time, we identified the principal concern of large-scale infrastructure projects running over budget, estimating that $20-40 billion of Australia’s infrastructure was at risk.
Since then, a lot has changed and not for the better. Two key themes within our overall analysis have emerged, both in response to the recession caused by COVID-19 and much of the inherent infrastructure portfolio risk.
It has not been an enviable year for those working in the public sector, with challenging decisions and heart-wrenching trade-offs made daily. However, one positive step has been universally reinforced by the Federal and State governments: the construction of public infrastructure as a vital – perhaps the largest – source of economic stimulus to help us grow out of the recession.
As a result, infrastructure commitments have increased from already record levels and commitments have been made to accelerate that spend.