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Innovative funding will deliver essential infrastructure



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ASSISTANT MINISTER FOR CITIES AND DIGITAL TRANSFORMATION THE HON. ANGUS TAYLOR MP

MEDIA RELEASE

11 April 2016

Innovative funding will deliver essential infrastructure

The Federal Government will consider innovative funding arrangements to deliver essential infrastructure and increase investment in high quality projects.

Australia has significant infrastructure needs and not all of those needs can be met through government grants.

Assistant Minister for Cities and Digital Transformation Angus Taylor said one potential source of funding was tapping into increased land value from major transport infrastructure.

*^**ê**ö*Z***d*µ*Ã¥*v***µ*o*o*'*}*¿***Ã¥*v*u***v*ö****v*P***P***ê**¡*]*ö*Z**ê*ö***ö******v****ö***Ã¥*Ã¥*]*ö*}*Ã¥*«**P*}*¿***Ã¥*v*u***v*ö*ê**¡******Ã¥****o*}*}*l*] ng for opportunities where these principles can be applied.

*^**ê**ö*Z***W*å*]*u***D*]*v*]*ê*ö***å* outlined last week, in relation to Victoria, smart investment in road and rail will help us transition from the mining construction boom to a more diverse economy.

*^/*v**Ã¥***( erence to media speculation surrounding a high speed rail connection from Melbourne to Brisbane, there is no commitment from the Federal Government to fund this project as it stands. The only way that major projects can be progressed is through transforming the ways proposals are planned, financed and delivered.

*^ To invest more, the Commonwealth needs to start capturing some of the value our public infrastructure investments create and this requires all stakeholders to consider urban renewal and development opportunities at the onset, rather than just the transport objectives.

*^ There are a number of projects which may have the potential to be partly funded through value capture, such as Melbourne Metro and Brisbane Cross River Rail. This will be the priority for the Turnbull Government.

*^ There is a parliamentary committee looking at high speed rail, chaired by John Alexander, and the government looks forward to receiving its report in due course.*_

Media contact: Sarah Bucknell 0448 111 669