New South Wales in particular and Australia in general both need more infrastructure such as railways, schools and hospitals. Governments do not have adequate cash on hand to build it. Unfortunately, funding infrastructure by making deals with private enterprise has become common with the result that only projects which can turn a quick profit for investors are being built. And in most cases the profits are privatised while the risks stay with the public.
At this time of historically low interest rates, it would be cheaper to borrow. Help us persuade the NSW government to stop privatising everything and to instead fund infrastructure such as important public transport projects by borrowing. And if Commonwealth involvement can be secured, the benefits are even greater, because the Commonwealth government stands to recoup some of its investment via income tax collections.
Read what OECD thinks on the matter.
Read what the new Reserve Bank governor said.
Visit the website of Borrow & Build.