Infrastructure projects are the way out of and beyond Covid-19

While the coronavirus demands immediate attention, long-term infrastructure will put SA in good stead for yearsMarkets are testing their emergency trading breaks and the global economy looks like a shrinking violet. Central bank balance sheets are already stretched to their limits. Large-scale infrastructure projects are one of the few levers left to mobilise public resources and stimulate the economy.

However, we need to focus our efforts on the infrastructure that will have the greatest effect. Not all projects are going to mobilise fast, create a large number of jobs, reposition the economy — and keep doing so for decades after. We have a moment of crisis with the coronavirus. A serious threat to life and livelihoods that acts directly and indirectly through a slowed down economy. It is a moment of crisis concentrating national attention and resources that we should make the absolute most of.

In the UK, the Crossrail project to join the east and west of London was the single largest project-driver of the country’s growth in the past 10 years. Japan, China and Germany have all used high-speed rail networks to drive their growth over decades.

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