Infrastructure advisory body Illawarra First is urging government’s to capitalise on low interest rates and invest in the region.
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“Critical infrastructure – providing a shot in the arm for productivity, employment and future economic capacity – could be delivered without the government having to pay more than 2.2 per cent,” said executive director Chris Lamont.
Suggestions included improved transport connections, supporting the tourist industry and improved inter-regional connectivity.
“Reckless spending must always be avoided, however, long term infrastructure should be delivered supporting the community and future growth for the lowest possible cost,” Mr Lamont said.
“The record low in borrowing costs presents what may be a once in a life time opportunity to fund major projects for the region. It’s important that this opportunity is not wasted.”
Chris Lamont is also executive director of the Illawarra Business Chamber.