$30 billion is required to renew and replace ageing infrastructure that is needed now.
This is the beginning of the renewal of the infrastructure built during the “baby boom” and rapid growth period in the 60’s and 70’s. There has been a steady increase in renewal spending since 2005, but the proportion of infrastructure in poor condition is not going down indicating it is likely that we are moving into a major renewal phase over the coming 20 years.
This is compounded by the requirement to upgrade infrastructure to meet changing functional requirements.
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