Page 3598 - Week 11 - Thursday, 23 October 2014
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Reliance on public sector employment makes Canberra’s economy susceptible to shifts in federal government policy. With significant federal government public service job losses, the territory’s economic growth is predicted at 1.75 per cent this financial year, below the forecast national average. To provide a more robust local economy, we need to diversify. Capital metro will provide a range of wider economic benefits for Canberra. Improvements in the transport network will improve economic productivity and growth, create more jobs, and increase the diversity and sustainability of our local economy.
Analysis carried out by Ernst & Young indicates that capital metro stage 1 will support over 3,500 jobs during construction, including 1,450 direct and 2,100 indirect jobs. The Capital Metro Agency has developed a local industry participation policy to ensure that locals can benefit from this stage of the project. Local firms have already benefited through the planning and early investigation phases of the project. The corridor development and increased economic activity stimulated by the light rail infrastructure, along with the flow-on jobs from industry and consumption effects, are anticipated to create an additional 50,000 jobs that will remain long term in the city.
Secondly, the investment in infrastructure will help to stimulate the economy when it needs it most. The government has a planned $2.5 million infrastructure program over the next four years. This is in addition to the private sector investment in light rail through a public-private partnership. This investment will help steer the territory through the tough years ahead. We are not a government that will sit back and do nothing; we have vision and commitment.
As Ms Berry said, investment in light rail is not just about transport solutions; it is also about catering for population growth and smarter land use. I do not think anyone can deny that we have constrained land availability in the territory. Experience in over 400 cities demonstrates that light rail infrastructure encourages higher densities in population, employment and economic activity along its route.
Investing in light rail along this important gateway to the capital creates a wide range of land use benefits for the territory, particularly as the government is the major landholder along the corridor. The investment in light rail will bring environmental, social, economic and health benefits to our community. These benefits will help to ensure that Canberra maintains a great quality of life into the future and protect the city from congestion, pollution, obesity and the decisions of the federal government.
With all the challenges that we face, the discussion must move beyond “can we afford light rail?” to “can we afford not to build light rail?”
Discussion concluded.
Adjournment
Motion (by Mr Gentleman) proposed:
That the Assembly do now adjourn.
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