After four wasted years, the Turnbull Government has finally accepted that borrowing to invest in productivity enhancing infrastructure can drive economic growth and job creation. Treasurer Morrison’s declaration that at a time of record low interest rates it makes sense to borrow for projects that boost economic productivity is precisely what Labor, the Reserve Bank and economists have been saying for years.

However, investing in the right projects is critical, which is why the Government must reverse its ill-advised decision to side-line Infrastructure Australia by establishing an Infrastructure Financing Unit within the Department of Prime Minister and Cabinet. Infrastructure Australia was created by the former Labor Government to independently assess infrastructure projects and to work with states and the private sector on funding arrangements. Its key role is to ensure that when the Government does borrow for infrastructure, it invests in projects that stack up.

Creating another bureaucracy to side-line the independent adviser makes no sense. The Government should have already learned that lesson from its creation of the Northern Australia Investment Facility, which was announced two years ago but has not invested in a single project. Having finally accepted economic common sense on infrastructure investment, the Government should use the 2017 Budget to tackle traffic congestion that is acting as a hand brake on economic and jobs growth in our cities. Infrastructure Australia approved Brisbane’s Cross River Rail and the Melbourne Metro projects before they received funding in the 2013 Budget.

One of the key reasons for the 20 per cent decline in total public sector infrastructure investment in the Government’s first two years in office was its 2014 decision to scrap such projects in favour of dud road projects that had not been the subject of proper planning.

The Government should also work with Infrastructure Australia on other critical public transport projects including the Western Sydney Rail, Perth’s Metronet and the AdeLINK light rail project in Adelaide.

Anthony Albanese MP

Tony Abbott continues to perpetuate the myths and contradictions that found him out and led to his demise. Even if Labor supported the “zombie measures” designed to harm the more vulnerable, it would not even scratch the surface of the current budget deficit.

Throughout the global financial crisis, Labor managed to keep the economy growing and secured a Triple A credit rating from all three ratings agencies. The groundwork for a real ‘debt and deficit’ disaster was laid by Abbott as a debt that was once $184 billion and now soars towards $400 billion. He managed this downward trend without the international headwinds experienced by Labor. Abbott promised in opposition to “pay back the debt” but as Prime Minister, he failed hopelessly in this regard.

Abbott accuses Bill Shorten of ‘opposing for opposing’s sake’ – a pot, kettle, black complaint. Peta Credlin who accompanied him on his “Road to Ruin” has now admitted “it wasn’t a carbon tax as you know”. “We made it a carbon tax … and when he (Abbott) cut through, Gillard was gone.” Credlin actually admits to pursuing “brutal retail politics”.

And while Abbott advocates Senate changes, the upper house is the watchdog of our constitution. It’s job is to scrutinise legislation, not to rubber-stamp it. So far it has served its purpose well.

Frank Carroll