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Wednesday, 8 February 2012
Page: 465

Nation Building Program

(Question No. 711)

Mr Truss asked the Minister for Infrastructure and Transport, in writing, on 3 November 2011:

In respect of his media release 'Building Better Infrastructure Delivers $77 billion Dividend' (23 October 2011), (a) from what source did the Bureau of Infrastructure, Transport and Regional Economics compile new data on the return on the Government's current investment in the nation's ageing highways, interstate rail network and urban public transport systems, and (b) is this source publicly available; if so, from where.

Mr Albanese: The answer to the honourable member's question is as follows:

In calculating the program-average benefit-cost ratio (BCR) of 2.65 in the media release, the Bureau of Infrastructure, Transport and Regional Economics (BITRE) used the project-specific BCRs supplied by project proponents to the Department of Infrastructure and Transport as part of the current Nation Building Program's appraisal process. Where necessary, the project-specific BCRs were adjusted to use a standard 4.4% discount rate, consistent with the Nation Building Program's Notes on Administration. The program-average BCR is the average of the project BCRs, discounted at 4.4% and weighted by outturn project costs.