Well-targeted investment in infrastructure reduces production costs, improving our international competitiveness. This is vital if we expect our export-dominated economy to lead to higher wages and better jobs.
The link between infrastructure and productivity is obvious, but more challenging is establishing a "vision" to underscore infrastructure development.
Lessons from the past can help. We are still playing catch-up after that decade of under-investment during the 1990s. We must avoid "boom and bust" cycles and create a more cohesive plan that embraces both social and economic demands, and that wins public acceptance despite the inevitable expenditure involved in realising the vision. If we want a prosperous society, it must be underpinned with enduring infrastructure, funded in such a way that successive generations benefit.
It cannot be dictated by the whims of traffic engineers, or by a local MP who wants to ensure his mates can get to their baches in double-quick time.
The quality of our environment is a huge consideration. We should all value clean water, clean air, healthy food and warm houses, affordable and efficient public transport. These core Labour values are under threat. Population pressure is building. Resources are finite. It will not be easy to advance toward a modern, 21st century society in a way that also protects and enhances the environment.