7.1.1 Financial constraints
Throughout most developed countries in the world, the demand for increased spending on the maintenance and renewal of roads and highways continues to grow. Road networks are expanding to cater for growth in cities and regions, and road users and communities continue to seek higher levels of service. At the same time, the available financial resources are constrained as Governments try to balance budgets and allocate tax dollars equitably across all public sectors. Demand for funds is growing, but the supply cannot match it.
Factors for transport agencies to consider include the following:
- The value of road infrastructure assets for all classes of roads in Australia and New Zealand is extremely high compared to other public infrastructure.
- Governments and the community demand increased accountability for effective and efficient spending of public funds.
- Competition for limited funds across government and other sectors is increasing.