<span class="" id="parent-fieldname-description"> Infrastructure Australia chairman Mark Birrell has lashed out at the federal governmentâs delay in approving the $5 billion asset recycling plan, in an interview with the Australian Financial Review. </span> <p>Birrell ordered the Senate to stop bickering and pass the Abbott government’s plan, which he reportedly said is crucial to clear Australia’s project backlog.</p><p>“Asset recycling is a key part of the future because it’s a fresh way of funding infrastructure that would otherwise not be built,” Birrell was quoted.</p><p>“Both industry and user bodies would be hoping this source of funds is available to build new infrastructure and now is the time to do it.</p><p>“Legislated certainty will mean this program of incentives definitely lasts. State treasurers need to know where the money will come from.”</p><p>The Abbott government’s program, which was announced in the budget, is designed to provide incentive payments to states and territories that sell assets and reinvest the sale proceeds to fund new infrastructure, was amended in parliament by Labor and the Greens to such an extent that the Abbott government now finds it unacceptable.</p><p>Birrell proposed to the AFR that the government should use the Winter break to sort out its differences, so that the asset recycling program can go ahead.</p><p>Birrell drove the point home in a press release earlier in July.</p><p>“Particular attention should be placed on recycling capital,” Birrell wrote. “Selling or leasing old assets like ports and energy facilities, and immediately injecting the proceeds into new assets, like public transport or freight networks. Handled well, the multiplier effect of these initiatives will be considerable and long lasting.</p><p>“Whilst there is a lot of work to be done, I am optimistic that an Infrastructure Plan can be developed which secures positive and transformational outcomes. We can help set Australia up for a higher standard of living, with employment opportunities that more than match our expected population growth.”</p>
