Thursday, 26 September 2013 10:51

AAA question rears again in NW Rail link funding

Media Release 8 June 2011

The Western Sydney Regional Organisation of Councils has urged the NSW Government to consider all options for funding the North West Railway link, including public sector borrowing.

 

WSROC President Alison McLaren said she welcomed the O’Farrell Government’s commitment to building vital infrastructure in Western Sydney.

“WSROC is delighted that the Premier is honouring his commitment to Western Sydney and making good on his promise to build this critical piece of infrastructure,” she said.

“However we would urge Mr O’Farrell to consider all the options for funding this project.”

“NSW has a chequered past when it comes to public-private partnerships (PPPs),” Clr McLaren said. “Some of our major infrastructure projects funded this way have been more successful than others.”

“In the past we have seen situations where the needs of the private sector far outweighed the benefit to the public in the way these projects were designed and contracted.

“It is important that we remember that public transport is first and foremost for the public – and that is where the ultimate benefits must lie.”

Clr McLaren urged the Premier not to rule out the option of the Government borrowing the money to fund the entire project.

“WSROC’s own report prepared last year by Lateral Economics found that NSW would have been $4.6 billion dollars better off if the Government had borrowed the money to build ten of the State’s most recent infrastructure projects, including the Cross City Tunnel and the M2 Motorway,” she said.

“Instead, Treasury’s commitment to maintaining the AAA credit rating has left NSW at a serious disadvantage – we are now suffering a major infrastructure deficit and our commuters are paying the cost in high tolls to maintain private sector profits.”

“We can not continue to make the same mistakes which is why we welcome the Government’s assurance that all the options for funding will be canvassed,” Clr McLaren said.

 

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Media Inquiries Karin Bishop, Acting CEO on 0417 239 539

Last modified on Thursday, 26 September 2013 12:20

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