Tag Archives: building australia fund

Labor Fails Infrastructure Again

26 Jul

Media Release – Senator Barnaby Joyce, 24 July 2010:

Senator Joyce said today that the Auditor General report on Infrastructure Australia’s first audit report reveals Labor’s politicised, haphazard and sloppy approach to infrastructure investment.

In the 2008-09 Budget, the Rudd-Gillard Government committed themselves to:

‘Decision making based on rigorous cost-benefit analysis to ensure the highest economic and social benefits to the nation over the long term.’

“The Auditor-General’s report today shows that not only did this Government fail to conduct rigorous cost-benefit analysis, some of the 28 ‘pipeline’ infrastructure projects which were identified did not pass a cost-benefit analysis.

This approach disagrees with the advice given by Dr Ken Henry last year when he said:

Government spending that does not pass an appropriately defined cost-benefit test necessarily detracts from Australia’s wellbeing. That is, when taxpayer funds are not put to their best use, Australia’s wellbeing is not as high as it otherwise could be.

“The Auditor-General’s report just shows another example of Labor’s wasteful and reckless approach to spending taxpayer’s dollars. After the Coalition left Labor with $60 billion in the bank and a $20 billion surplus, Labor rushed $90 billion of stimulus spending, with only 14 per cent of it spent on economic infrastructure.

“Labor seats have attracted 84 per cent of spending from the Education Investment Fund and 73 per cent of spending from the Health and Hospitals Fund.

“The result is that the Building Australia Fund has only $705 million left.

“Australia can not afford another three years of Labor.”

For more information: Matt Canavan 0458709433

Joyce: Same Old Labor

16 Jul

Media Release – Senator Barnaby Joyce, 16 July 2010:

Same old Labor: double the announcement, half the value

Anthony Albanese was quoted in the Brisbane Times this morning as saying that Labor “supports” the $8.2 billion Brisbane cross-river rail project.

“I am interested to know exactly what this support means”, Senator Barnaby Joyce, Shadow Minister for Infrastructure, said today.

“Labor certainly has no money left in the nation’s cookie jar. They have only $705 million left unallocated in the Building Australia Fund.”

“Instead Labor has wasted most of their $90 billion stimulus, investing it in insulation and over priced school halls. They only spent 14% of this amount on economic infrastructure.”

In 2008, Labor promised to establish a $20 billion infrastructure fund. It only received $10.9 billion due to Labor’s wasteful and reckless spending and the money the fund did receive came from the Coalition’s last budget surplus ($7.5 billion), money ripped out from funds to deliver broadband in the bush ($2.5 billion) and the sale of Telstra ($1 billion).

“So we are left with half the infrastructure promised but with $150 billion gross debt. Same old Labor: double the announcement with half the value.”

“This is just more evidence that Labor can’t manage the nation’s finances. Australia can’t risk another 3 years of Labor”.

More Information – Jenny Swan 0746 251500, 0438 578 402

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