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July 5, 2022

High-speed rail offers $48 billion boost

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A new report shows $48 billion in benefits from high-speed rail along the East Coast including major benefits for regional NSW.

More work options, a boost to tourism income, better access to city health and welfare services and stronger businesses are highlighted in High Speed Rail: Benefits that add up.

The report was commissioned by Greens deputy leader Adam Bandt and prepared by a former partner at Deloitte, also shows benefits in time saved by consumers, congestion savings, accident reduction and pollution reduction.

‘The economic gains from high speed rail are clear, now the government needs to provide the financial commitment,” NSW Greens Senator Lee Rhiannon said.

‘The report predicts high-speed rail will bring new families to regional towns along the route, including people who can commute more easily to jobs in Sydney.

‘People are attracted to the idea of living in regional North Coast towns but finding employment can be difficult.

‘What high-speed rail has been shown to do is reduce inequalities between regions like the North Coast and cities, for example by bringing new tourist and commuter visits and boosting socio-economic well-being.

‘By bringing regions and towns closer together North Coast residents will also have improved access to jobs as well as health and welfare services.

‘High Speed Rail will allow North Coast residents to better connect with each other, bringing flow on benefits to sports and the arts.

‘This report concludes that when these economic and social benefits are included the cost of high-speed rail is almost cut in half.’

Report here: http://adam-bandt.greensmps.org.au/sites/default/files/hsrbenefitsreport.pdf

 

 


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