Section 1: Entity overview and resources
Infrastructure Australia (IA) is a statutory authority established on 1 September 2014 following amendment of the Infrastructure Australia Act 2008. IA's primary role is to support the Australian Government's plan to build a strong and prosperous economy. This is to be done through the provision of high quality independent advice concerning nationally significant infrastructure. This advice is for the Australian Government, and in turn, all levels of government, industry and stakeholders.
Nationally significant infrastructure includes transport, energy, communications and water infrastructure where investment (or further investment) will materially improve national productivity.
In accordance with the outcome in Section 2 of this document, “Outcomes and Planned Performance”, IA is responsible for providing independent advice for:
- improved decision-making on infrastructure matters;
- better identification and assessment of key drivers of infrastructure demand and utilisation;
- improved prioritisation of infrastructure projects; and
- promotion of best practice infrastructure planning, financing, delivery and operation.
The key priorities for IA in 2015–16 are:
- delivering a 15 year national infrastructure plan (the Australian Infrastructure Plan). This plan identifies reform and other initiatives to increase productivity and support economic growth;
- the plan considers the key demand drivers and infrastructure challenges identified in the Australian Infrastructure Audit. Key stakeholders will be consulted on the identified drivers and challenges to inform the development of the Australian Infrastructure Plan; and
- continue to establish and develop the corporate capabilities of IA's new corporate and governance structure. This supports IA's role as an independent entity that provides high quality advice.
The Australian Infrastructure Audit (delivered in 2014–15) considers demographic trends, relevant to infrastructure utilisation and identifies a number of challenges that must be addressed to sustain Australia's quality of living and economic growth. Technology changes and financial constraints were also considered in the Audit. The primary function of the Audit is to inform the development of the Australian Infrastructure Plan. Jurisdictions, industry and community stakeholders will be encouraged to provide feedback on the key challenges identified in the Audit to inform the priority reforms and initiatives in the Australian Infrastructure Plan.
Infrastructure Australia will deliver the rolling 15 year Australian Infrastructure Plan in 2015–16. The plan will both inform and be informed by Infrastructure Australia's other functions including evaluations of infrastructure project proposals, the development of the Infrastructure Priority List and the outcomes of the Australian Infrastructure Audit.
The plan will be updated at least every five years and will identify reforms and capital investment initiatives at a national and state specific level.
Following the establishment of IA's new corporate and governance structures in 2014–15, the entity will continue to develop its corporate capabilities in 2015–16 to fulfil its duties as an independent body. This will include the ongoing implementation of a number of corporate systems, structures and processes.
Additional priorities of IA in 2015–16 include:
- continue to undertake evaluations on all infrastructure proposals where funding of more than $100 million is sought from the Commonwealth. This includes economic and social infrastructure proposals but excludes defence proposals;
- regularly update and further develop the Infrastructure Priority List. This priority list will be informed by the other work of IA, in particular the Australian Infrastructure Plan and evaluation of infrastructure proposals;
- continue to evolve the frameworks utilised by jurisdictions in submitting proposals to IA for evaluation to promote best practice in infrastructure planning, procurement and delivery. This will include consideration of costs and benefits and the appropriate assessment of wider benefits (in addition to direct benefits) providing guidance on how these should be measured and applied, if required;
- promote best practice in the planning, funding and delivery of infrastructure through leadership on regulatory reform objectives;
- through engagement with all levels of government and industry, facilitate the continual evolution of planning and procurement practices by building a repository of data, information and knowledge on the nation's infrastructure resources, requirements, delivery and practices; and
- continue to establish and maintain productive working relationships with all levels of government and industry. This includes engaging closely with Commonwealth departments, agencies and entities as well as states, territories, local governments, investors in infrastructure, owners of infrastructure and the public—as the end users of infrastructure.
Table 1.1 shows the total resources from all sources.
There are no Budget measures relating to IA detailed in Budget Paper No. 2.
Table 1.2: Entity 2015–16 Budget measures
Part 1: Measures announced since the 2014–15 Mid-Year Economic and Fiscal Outlook (MYEFO)
This table is not provided as there have been no measures since MYEFO for IA.
Part 2: MYEFO measures not previously reported in a portfolio statement
This table is not provided as there were no MYEFO measures for IA.