The $300 million roads package announced by the Baird government today will ease congestion on some of Sydney’s busiest roads, bringing home to motorists the value of asset recycling. The plan to address key pinch points across the roads network recognises the negative impact of congestion on our economy and seeks to provide real solutions for the people of New South Wales.
Margy Osmond, Chief Executive of peak national industry body Tourism & Transport Forum (TTF), said “Asset recycling gives the government the ability to free up the capital that is locked in existing assets and invest in the projects that will make a real difference to the lives of the people of Sydney. Rebuilding NSW will allow the government to deliver the public transport and road upgrades that will transform the day to day experience of getting to work, or to school, or for visitors getting around our city.
“TTF has long supported the Baird government’s plan to partially lease the electricity networks to fund the construction of major infrastructure projects. The lease will give New South Wales a once in a generation opportunity to improve transport infrastructure in a timeframe that would otherwise be impossible.
“Traffic congestion is already reducing Sydney’s competitiveness, with the cost to the economy expected to grow from $5.1 billion per annum to $8.8 billion per annum by 2020. Tackling congestion requires significant investment like that announced today. We commend the Baird government for investing in a real solution for Sydney.”