The planned lease of the electricity poles and wires is allowing NSW to plan for ‘breakthrough’ transport projects, outlined in today’s State Infrastructure Strategy, Infrastructure Partnerships Australia has said.
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“Sydney’s congestion is worse than Mexico City’s, and it needs big investments in good transport projects to fix it,” IPA Chief Executive Brendan Lyon said.
“New mass transit and road tunnels under the harbour will be breakthroughs for Sydney, but they will not happen without the windfall from the electricity leases.
“Planned major investments across the NSW road network will bring down freight costs, increase safety and benefit the Sydney and regional economies alike.
“The poles and wires are the state's big chance, because they make very large, very complex and very necessary projects possible, because of the windfall funding.
“It’s understandable that the public sector unions will fight the electricity leases hard, but after 20 years of bumping along the bottom, the public need these reforms to get up this time.
“A few years ago, Sydney had plenty of glossy infrastructure plans but no projects, because existing public debt and large deficits put projects beyond reach.
“The last few years have seen ports, power and water plants leased to super funds and other investors, with the windfall paying for the Sydney’s North West Rail Link, light rail in Sydney and Newcastle and the acceleration of Pacific Highway upgrades.
“If we get the poles and wires leased, NSW will be a different state in 10 years, because of the scale of public infrastructure that we will be able to get done with the proceeds.”
Premier Baird also supports the sell off.