infrastructure is essential for how we live whether it be built and owned by government, created by the private sector for its own commercial uses or is built as a concession by the private sector and/or government. What we are seeing in our community is the need for infrastructure whether that be telecommunications, public transport, water systems or ports. Generally, infrastructure implies big dollars and these dollars lead to jobs and stimulate the economy.
The ability to finance infrastructure whether for the private or public sector is essential for its creation is increasingly governments with their existing commitments to recurrent expenditure cannot commit to the level of investment required to meet the infrastructure requirements set by the community - new hospitals, new roads, new airports….
As we prepared to exit from Covid 19 we can expect to hear a lot of debate about building infrastructure and creating jobs. What is critical is that the infrastructure creates business activity or efficiencies not just in its construction phase but over its economic life. It is clear that major roads, ports and power stations meet these criteria.
As a community in each part of the world we must listen and understand what our leaders are proposing and ensure we can afford to pay what they are committing us to. We need to ensure we have the appropriate mix of infrastructure and financial obligations to support it.
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