INFRASTRUCTURE (ECONOMICS) – AUSTRALIA

Big projects to get strike protection

roymorgansocial Leave a comment

Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 4 : 22-Oct-19

Industrial Relations Minister Christian Porter has urged Labor to support legislation to allow workplace agreements to apply for the entire construction phase of greenfields projects. The move is aimed at preventing unions and workers from disrupting a resources, energy or infrastructure project by seeking improved wages and conditions if an enterprise agreement expires in the middle of the construction phase. The Construction, Forestry, Maritime, Mining & Energy Union’s Dave Noonan contends that it is unfair to lock in terms and conditions that could last for 5-10 years.

CORPORATES
AUSTRALIA. DEPT OF EMPLOYMENT, SKILLS, SMALL AND FAMILY BUSINESS, AUSTRALIAN LABOR PARTY, CONSTRUCTION, FORESTRY, MARITIME, MINING AND ENERGY UNION OF AUSTRALIA, MINERALS COUNCIL OF AUSTRALIA, THE AUSTRALIAN INDUSTRY GROUP, CHEVRON CORPORATION, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

Cyber threat to transport, power

roymorgansocial Leave a comment

Original article by Ben Packham
The Australian – Page: 1 & 2 : 6-Sep-19

Home Affairs­ Minister Peter Dutton will release a cyber security consultation paper on 6 September. It warns of the growing threat to Australia’s critical infrastructure, including energy, tele­communications and transport networks. The paper will note that industrial plants are also vulnerable to targeted attacks from state-sponsored hackers and cyber criminals. Dutton will also call for greater co-operation between governments and business, warning of the heightened risk since the Coalition released its cyber security strategy in 2016.

CORPORATES
AUSTRALIA. DEPT OF HOME AFFAIRS, AUSTRALIAN SECURITY INTELLIGENCE ORGANISATION, MAERSK, AUSTRALIAN NATIONAL UNIVERSITY, AUSTRALIAN STRATEGIC POLICY INSTITUTE LIMITED

Federal debt boss: why borrowing isn’t easy

roymorgansocial Leave a comment

Original article by Adam Creighton
The Australian – Page: 4 : 26-Aug-19

Australian Office of Financial Management CEO Rob Nicholl has rejected suggestions that the federal government’s capacity to increase its borrowings has been boosted by the downturn in bond yields. The yield on 10-year government bonds fell below the cash rate of one per cent earlier in August, and Nicholls argues that demand for government debt has not risen despite a global downturn in bond yields. The federal government is resisting pressure to ramp up its infrastructure spending instead of prioritising a return to a Budget surplus.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY. OFFICE OF FINANCIAL MANAGEMENT

Billions for big projects must roll on

roymorgansocial Leave a comment

Original article by Michael Roddan
The Australian Financial Review – Page: 1 & 6 : 13-Aug-19

Infrastructure Australia’s latest audit has stated that the current boom in infrastructure spending needs to be maintained over the next 15 years if living standards are to be maintained. Infrastructure Australia states the annual cost of road congestion is tipped to grow by $18.9 billion to $38.8 billion in just over a decade without additional investment, while it states energy prices have risen 50 per cent since its last audit, which was undertaken in 2015. Australia’s population is expected to increase to 31.4 million over the next 15 years, but Infrastructure Australia says spending in major cities like Sydney and Brisbane is not keeping pace with population growth, particularly in outer suburbs.

CORPORATES
INFRASTRUCTURE AUSTRALIA

Pull your weight: Feds tell states

roymorgansocial Leave a comment

Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 4 : 16-Jul-19

Urban Infrastructure Minister Alan Tudge has called on the states to accelerate new infrastructure projects where possible to help stimulate the Australian economy. While noting that capacity constraints in the construction sector are at their highest level since the resources boom, Tudge has suggested three areas where new infrastructure can be fast-tracked, including the 166 small urban congestion projects that the federal government announced in the lead-up to the 18 May election.

CORPORATES
AUSTRALIA. DEPT OF INFRASTRUCTURE AND REGIONAL DEVELOPMENT, AUSTRALIAN LABOR PARTY, INFRASTRUCTURE AUSTRALIA

States urged to sell $220b in public assets rather than increase debt

roymorgansocial Leave a comment

Original article by Mark Ludlow
The Australian Financial Review – Page: 6 : 20-Jun-19

The net debt of Australia’s state governments is set to rise sharply in coming years to finance infrastructure projects, but analysis shows that they have almost $220bn worth of assets that could be privatised. This includes $67.4bn worth of public assets in Queensland and $59.bn in New South Wales. IFM Investors CEO Brett Himbury says the nation’s superannuation funds would be keen to invest in state government assets. The NSW government may be open to further asset sales, but Queensland and Western Australia have ruled out this option.

CORPORATES
IFM INVESTORS PTY LTD, INFRASTRUCTURE PARTNERSHIPS AUSTRALIA, S&P GLOBAL RATINGS, AUSTRALIA. DEPT OF THE TREASURY, AUSGRID PTY LTD, ENDEAVOUR ENERGY LIMITED

Coalition’s $1bn drive to get regions moving

roymorgansocial Leave a comment

Original article by Joe Kelly
The Australian – Page: 1 & 4 : 1-Apr-19

The federal government’s April 2019 Budget will include an additional $1bn for the Roads of Strategic Importance program. The extra funding will be used to upgrade regional and interstate road infrastructure. The Budget will also include one-off payments to assist people such as pensioners, veterans and the disabled with the rising cost of energy. Treasurer Josh Frydenberg says the Budget will focus on responsible and targeted spending, while shadow treasurer Chris Bowen says it will be a "highly political" document that will in reality be an election campaign launch for the Coalition.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, NATIONAL PARTY OF AUSTRALIA, SHOOTERS, FISHERS AND FARMERS PARTY

Land title ruling set to cost billions

roymorgansocial Leave a comment

Original article by Amos Aikman
The Australian – Page: 5 : 14-Mar-19

The High Court has upheld a previous ruling of the Federal Court, which found that the Ngaliwurru and Nungali peoples are entitled to compensation for "cultural loss" caused by the construction of infrastructure such as roads and water pipelines on native title land. The court ruling is limited to 1.26sq km of land at Timber Creek in the Northern Territory, but lawyers says it is likely to prompt similar compensation claims by native title holders across Australia.

CORPORATES
HIGH COURT OF AUSTRALIA, FEDERAL COURT OF AUSTRALIA, AUSTRALIA. ATTORNEY-GENERAL’S DEPT, ASHURST AUSTRALIA, AUSTRALIAN LABOR PARTY, WESTERN AUSTRALIA. DEPT OF TREASURY AND FINANCE, QUEENSLAND. DEPT OF THE PREMIER AND CABINET, NORTHERN TERRITORY. DEPT OF THE CHIEF MINISTER

$1 trillion debt bomb buried in budget papers

roymorgansocial Leave a comment

Original article by Adam Creighton
The Australian – Page: 1 & 6 : 21-Jun-18

Analysis of budget documents shows that the net financial liabilities of Australia’s federal, state and territory governments will top $A944bn in June 2021, which is equivalent to about $A36,000 per person. Infrastructure projects will be a major contributor to the debt blowout, with New South Wales and Victoria unveiling plans to ramp up spending on infrastructure over the next four years. Meanwhile, credit ratings agency Moody’s has expressed concern about the NSW government’s increased debt in its 2018 Budget, warning that it could affect the state’s credit profile.

CORPORATES
MOODY’S INVESTORS SERVICE INCORPORATED, NEW SOUTH WALES. THE TREASURY, AUSTRALIA. DEPT OF INFRASTRUCTURE AND REGIONAL DEVELOPMENT, INFRASTRUCTURE PARTNERSHIPS AUSTRALIA, QUEENSLAND. TREASURY

States suffer as PM’s pet projects prosper

roymorgansocial Leave a comment

Original article by David Uren
The Australian – Page: 2 : 22-May-18

Federal grants to the states for infrastructure projects have declined to their lowest point since 2013-14. Prime Minister Malcolm Turnbull has stated that the federal government should not be seen as an ATM for the states and territories on infrastructure, with his government preferring to put money in projects in which it has direct equity, such as Western Sydney Airport. Adrian Dwyer, the CEO of Infrastructure Partnerships Australia, contends that there is a considerable difference between direct and equity funding. He says more infrastructure spending is needed to address congestion in Australia’s cities.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, INFRASTRUCTURE PARTNERSHIPS AUSTRALIA, AUSTRALIA. DEPT OF INFRASTRUCTURE AND REGIONAL DEVELOPMENT