Infrastructure key to improving Australian living standards

Infrastructure has been labelled as the key to improving living standards in Australia, Infrastructure Australia chairman Mark Birrell told attendees at the Australian Financial Review (AFR) National Infrastructure Summit in Sydney on Wednesday.

Birrell said Australia needs to focus its infrastructure plan for the long term to help sustain Australia's economic growth and quality of life.

"We must encourage a 15-year outlook, beyond election cycles and a nation wide strategy," Birrell said.

He noted Australia's population growth was very considerable and exceeding that of other nations such as Britain, Canada and the United States.

"Between 2011 and 2031, three-quarters of our growth will take part in four capital cities -- Melbourne, Sydney, Perth and Brisbane."

Birrell, however, said that regional cities are also important to the economy, despite the transitioning economy.

He noted Australia has a key global locational advantage in the shift in global power to Asia.

"The Asian middle class will comprise of two thirds of the global middle class by 2031, and demand more of our exports, tourism and education," Birrell said.

"Asia is going to deliver the goods for us...our future success relies on engaging."

He also noted the need for an increased delivery of high-density housing built close to infrastructure and amenities to deal with Australia's growing population.

The summit brought together leaders from Australia's infrastructure and political sector. Endit