Rebuilding Australia, A Plan for a Civil Infrastructure Led Recovery was prepared by BIS Oxford Economics on behalf of CFF National and found that civil construction is central to Australia’s economic recovery, saying $2.95 million of output is contributed to the economy for every $1 million invested.
“Furthermore, 7.2 workers are employed for every $1 million invested,” said CCF National CEO Chris Melham.
“So, a $250 million investment in a road, rail, bridge, utilities or port project would generate approximately 1,800 jobs.
“The report also highlights that boosting civil construction’s GDP contribution from 3.8 per cent to 4.1 per cent would generate 11,100 jobs, and boosting its GDP contribution to 4.5 per cent would create 36,100 jobs.
“In light of these figures, CCF National is calling on the Federal Government to significantly boost funding to civil infrastructure in the 2021-2022 Federal Budget to boost business confidence, support investment and create jobs.
“Based on the findings of this report, CCF also encourages governments to use ‘debt-funding’ and to take advantage of historically low interest rates and invest these funds in productive infrastructure projects.”
The report proposed improved planning and risk management, streamlining and reforming the tendering process, and a greater focus on skills and training as a way to facilitate further investment in the sector and a stimulation of the economy.
Click here to read the full report.
For more information visit the CCF National website.