Many have long decried the decline in US infrastructure, which is why the recent Infrastructure Investment and Jobs Act, which will provide US$1.2 trillion in spending, of which US$550 billion will be new federal spending over the next five years, is so important. In the UK existing infrastructure projects such as HS2 have been boosted by announcements of a ￡4.8 billion (US$6.3 billion) levelling up fund to regenerate and develop regional towns and cities, as well as a ￡12 billion (US$15.8 billion) infrastructure bank-Around the world, governments are investing heavily into infrastructure. For instance, in Australia government spending on infrastructure projects is expected to increase significantly in the next few years. However, a recent report by Infrastructure Australia casts doubts on the ability of the industry to keep pace with the upcoming requirements, suggesting that employers may struggle to recruit skilled workers for one in three industry jobs by 2023.
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