The ACT Government was then, and remains, a strong supporter of the proposal.
In fact we were the only jurisdiction to list high-speed rail as a priority for consideration by Infrastructure Australia in 2008. We are heartened that the project has now been brought forward by the federal government.
I don’t think anyone underestimates the magnitude of the project though. At a current estimated price tag of over $100 billion this is obvious. I don’t think anyone is under any illusion that this proposal will happen overnight.
It is, by any measure, a massive project.
It will have far-reaching economic impacts – not dissimilar from those of the snowy scheme or the National Broadband Network (NBN).
Importantly – this project – this time – is not being examined in a flurry of promises.
In fact what the federal government has sensibly done is to recognise it’s a project requiring long-term thinking and a number of steps if it is to become a reality.
And the first step is to examine, choose and preserve the route.
That is the process we’re in now. This recognises that a project like this requires forward planning so that when the time comes – the track can be laid.
This is a project of national significance.
Rail is without question the most energy efficient form of land transport. As such it will better link Canberra into the national low-energy future.
Whilst the infrastructure will have a role in freight transport – our main game in the ACT is knowledge.
By providing very fast links between Canberra, Sydney, Melbourne and even Brisbane - it will be the ‘intellectual silk road’ by which Canberra- based knowledge businesses trade with Australia’s major population and commercial centres.
It will have an important role in supporting the ACT’s $1.5 billion tourism industry – and the 13,500 Canberrans who work in it.
It will do so directly – and indirectly. High-speed rail will provide yet another convenient and cost-competitive way for visitors to come here.
The labour impacts of the high-speed rail for Canberra would be significant also.
There will be a significant boost to job creation and our local economy during the construction phase.
This initial spike in activity would be replaced over the longer-term with new jobs created to maintain and operate the new high-speed rail network.
For example – I can’t see why the ongoing control and management of this national rail network would not be based in Canberra – creating ongoing, highly skilled jobs.
High-speed rail would also open the door to a larger pool of labour – increasing labour mobility.
This would make it easier for local businesses to be able to draw on a larger skilled labor force, lifting productivity and allowing for greater job creation in the ACT and region.
This employment growth will in turn encourage greater consumer spending.
This will permeate through all sectors of the ACT economy, encouraging further economic activity and job creation.
In summary – the economic and environmental benefits of this project in the long-term are obvious – as are the costs.
That’s why I am heartened that the vision of an east coast high-speed rail network is being examined in a measured way.
I am heartened that a stepped approach – starting with the identification of the route – is being taken – and that a largely bi-partisan and long-term approach is being taken.
As we move to a clean energy economy the conditions for this project to become a reality are materialising.
It’s a project whose time – if not already here – is just around the corner.
And when it does it will be good news for the ACT and our region.
That’s why the ACT Government remains committed to doing whatever we can to ensure the high-speed rail becomes a reality – and that the Canberra community can take best advantage of it.
