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From BS:
Infrastructure is a key enabler of productivity growth but changes to infrastructure investment are needed, Australian Competition and Consumer Commission Chairman Rod Sims told an international symposium on infrastructure.
“We need to make the right investment decisions, with the highest cost benefit ratios,” Mr Sims said.
“In Australia, we do not always do this, to our cost.”
Mr Sims also recommended congestion charging.
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“Trying only to build more roads to reduce congestion is not likely to work,” he said.
Which is precisely what our new government is aiming to do.
About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific's leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
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