find the latest legal job
Senior Associate - Litigation & Dispute Resolution
Category: Litigation and Dispute Resolution | Location: Melbourne CBD & Inner Suburbs Melbourne VIC
· Come work for a firm ranked in Lawyers Weekly Top 25 Attraction Firms
View details
Associate - Workplace Relations & Safety
Category: Industrial Relations and Employment Law | Location: Brisbane CBD & Inner Suburbs Brisbane QLD
· Employer of choice · Strong team culture
View details
Freelance Lawyers
Category: Banking and Finance Law | Location: All Perth WA
· Freelance opportunities through Vario from Pinsent Masons
View details
Freelance Lawyers
Category: Other | Location: All Adelaide SA
· • Qualified lawyer with a strong academic background
View details
Freelance Lawyers
Category: Other | Location: All Melbourne VIC
· • Qualified lawyer with a strong academic background
View details
Infrastructure spend a revenue relief for law firms

Infrastructure spend a revenue relief for law firms

Private practice lawyers could be the beneficiaries of the near-record $22 billion infrastructure boost delivered in the 2009-10 budget, as rail, road, energy and other projects prepare for lift…

Private practice lawyers could be the beneficiaries of the near-record $22 billion infrastructure boost delivered in the 2009-10 budget, as rail, road, energy and other projects prepare for lift off.

Infrastructure and project groups within law firms have welcomed the news, noting the potential for government monies to flow into the PPP market, and assist in filling funding gaps emerging from the private sector.

"There are some significant funding challenges in a number of upcoming PPP Projects," Brendan Quinn, Freehills partner for banking and projects told Lawyers Weekly.

"The availability of some sort of government funding or government support to obtain funding is going to be very important in moving these Projects ahead in the short to medium term ... These challenges will give a direct flow through to us at Freehills."

Robert Edel, head of the DLA Phillips Fox mining and energy practice in Perth, said for infrastructure lawyers the budget was "one out of the box" that may not be repeated in our lifetime. "It's also something that will last a long time," he said.

"This isn't going to take one or two years; this will go for a number of years and run through the entire economy."

Quinn said that with the bottom falling out of the PPP sector's tradition funding base - capital markets - the record infrastructure spend could provide for some much needed relief. But the real test will be in how innovative the government can be in funding such projects.

"Given that we are dealing with a hopefully short term issue of liquidity, it would seem sensible that the governments do something more innovative, which breaches the liquidity gap but means that they are there for the time they need to be, but the can appropriately exit in due course and funding solutions can appropriately revert fully to the private sector," he said.

Edel said that the sheer number of approvals will provide a steady flow of legal work almost immediately.

"In the initial stages the first tranche of the work to come through from the funding will be environmental and native title work, heritage, land access and general approvals work," he said.

"Over time that will flow into the preparation of engineering and construction contracts, and services contracts with various consultants," said Edel. "And then in turn after that I would expect to see a lot of financing work."

Treasurer Wayne Swan pushed his budget under the promise of "nation building", using infrastructure as a means to bolster employment. He said the budget builds on action already taken by the Government since the extent of the global recession became clear, with all initiatives resulting in 35,000 building sites and the support of 210,000 jobs.

- Angela Priestley

Like this story? Read more:

QLS condemns actions of disgraced lawyer as ‘stain on the profession’

NSW proposes big justice reforms to target risk of reoffending

The legal budget breakdown 2017

Infrastructure spend a revenue relief for law firms
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
microphone
Oct 20 2017
Podcast: One of law’s most infamous alumni – in conversation with Julian Morrow
In this episode of The Lawyers Weekly Show, Melissa Coade is joined by The Chaser’s Julian Morrow....
protest
Oct 20 2017
High Court overturns ‘excessive’ anti-protest legislation
Bob Brown’s recent victory in the High Court over the Tasmanian government was a win for fundament...
Blocked
Oct 20 2017
Changes to Australian citizenship laws blocked
Attempts to beef up the requirements to obtain Australian citizenship were thwarted this week, after...
APPOINTMENTS
Allens managing partner Richard Spurio, image courtesy Allens' website
Jun 21 2017
Promo season at Allens
A group of lawyers at Allens have received promotions across its PNG and Australian offices. ...
May 11 2017
Partner exits for in-house role
A Victorian lawyer has left the partnership of a national firm to start a new gig with state governm...
Esteban Gomez
May 11 2017
National firm recruits ‘major asset’
A national law firm has announced it has appointed a new corporate partner who brings over 15 years'...
opinion
Nicole Rich
May 16 2017
Access to justice for young transgender Australians
Reform is looming for the process that young transgender Australians and their families must current...
Geoff Roberson
May 11 2017
The lighter side of the law: when law and comedy collide
On the face of it, there doesn’t seem to be much that is amusing about the law, writes Geoff Rober...
Help
May 10 2017
Advocate’s immunity – without fear or without favour but not both
On 29 March 2017, the High Court handed down its decision in David Kendirjian v Eugene Lepore & ...