Page 3665 - Week 12 - Tuesday, 28 October 2014
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Respected economic bodies such as the Productivity Commission, Infrastructure Australia, the Centre for International Economics and individuals such as Dr David Hughes have cast doubt on the economic benefits of the light rail project. Why do you claim that the light rail project will have strong net benefits for the ACT when experts like the Productivity Commission, Infrastructure Australia and the Centre for International Economics have serious reservations?
MS GALLAGHER: Part of the answer is going to refer the member to the fact that the business case will be released in full on Friday, and that will have very detailed documentary evidence to support the cost-benefit ratio that will be released as part of that and the benefits that would flow from an infrastructure project like this. In terms of my comments, the ACT economy is showing signs of the effects of Prime Minister Abbott’s job cuts, without a doubt. In the last 12 months those job cuts and the speed with which they have occurred have been under this federal government that is in place now. There are signs that, in terms of our unemployment rate and some of the other economic data that is flowing through, the economy is responding to these.
My point in that interview that I did was that, when the commonwealth is not investing and when there are other big projects that have been finalised, people will look to the ACT government to provide some stability and confidence in an infrastructure program going forward. That was my point. There is a $2½ billion infrastructure program outlined in this year’s budget. The point I was making was there has never been a more critical time for infrastructure projects, of which light rail is one, to continue to provide confidence and investment opportunities in this city.
MADAM SPEAKER: A supplementary question, Mr Coe.
MR COE: Chief Minister, what is the government doing to mitigate concerns articulated by Deloitte that the economic returns that can be delivered through light rail investment alone are likely to be economically marginal and the net economic outcome for light rail under even minor adverse circumstances is likely to result in negative economic returns?
MS GALLAGHER: This government has taken a decision that there are four priority areas to invest in over the next term—the remainder of this term and the short to medium-term beyond it; that is, health, education, transport and asbestos. They are the four priorities. We believe capital metro is not just a public transport system but that it will bring a lot of other opportunities and investment to this town and bring a lot of other benefits to the city. It is a project worthy of the national capital, and it will change the city for the better.
There are four priorities that we have outlined. We need to deal with public transport and we need to deal with transport across the city. Capital metro is one component of that, just as roads are, just as bike and rides are, just as park and rides are, just as walking and cycling infrastructure are. It is building the transport network for the city, just as ACTION is, and working out how ACTION integrates with a whole range of other transport initiatives. All of that is part of the short to medium-term plan for the
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