A new parliamentary report highlights the importance of faster rail investment in Australia’s economic recovery and proposes a fairer and more sustainable funding approach.

Media release issue date: Wednesday, 9 December 2020

A new parliamentary report highlights the importance of faster rail investment in Australia’s economic recovery and proposes a fairer and more sustainable funding approach. Mr John Alexander OAM MP, Chair of the House of Representatives Infrastructure, Transport and Cities Committee, today tabled the report for the committee’s inquiry into options for financing faster rail. ‘Before COVID-19, this committee saw funding faster rail using value capture as an opportunity. Today, it’s an imperative.’ Value capture is a means by which governments can more fairly fund part, or all, of the costs of rail infrastructure projects and provide relief for taxpayers now and in the future. ‘When government funded infrastructure is clearly linked to significant property value uplifts, or rezoning, governments have a duty to taxpayers to secure just, equitable and fair portions of these increases in property values,’ Mr Alexander said. The report makes three recommendations which focus on value capture and value sharing, addressing the missed opportunities where property values rise dramatically as a result of taxpayer funded rail infrastructure. ‘During the inquiry the committee considered the issue of fairness: Is it fair for the taxpayer to fund infrastructure that creates great wealth for landowners, speculators and developers? Should the taxpayer receive a return when their money is invested? Is it fair that we leave future generations to pay for our spending today?’ Mr Alexander said. The report builds on the committee’s work in the 45th Parliament. In two previousreports, the committee recommended a value capture model be designed and utilised in Australia, with the Australian Government, state and territory, and locals governments working together in a coordinated approach to value capture.’ The report and further information about the inquiry is available on the committee’s website. For media comment: Mr John Alexander OAM MP Electorate: 02 9869 4288 Parliament: 02 6277 4804 For background information: Please contact the committee secretariat Phone: 02 6277 2352 Email: itc.reps@aph.gov.au Website: www.aph.gov.au/itc

Infrastructure investment approaches and international lessons are on the agenda for the videoconference public hearing on Monday, 14 September for the inquiry into options for financing faster rail.

Media release issue date: Friday, 11 September 2020

Infrastructure investment approaches and international lessons are on the agenda for the videoconference public hearing on Monday, 14 September for the inquiry into options for financing faster rail. Mr John Alexander OAM MP, Chair of the House of Representatives Standing Committee on Infrastructure, Transport and Cities, said ‘major infrastructure projects will play an important role in Australia’s economic recovery’. ‘Strategic investment in rail infrastructure can enhance connectivity between Australia’s cities and regions, and deliver significant economic and social benefits to Australians,’ said Mr Alexander. The committee will hear from investment specialists QIC and IFM Investors about infrastructure investment opportunities and challenges, and UK rail infrastructure expert Professor Andrew McNaughton will provide an international perspective on lessons applicable to the Australian context. Public hearing details Date: Monday, 14 September 2020 Time: 2:00pm to 5.00pm Location: Videoconference 2.00pm: QIC 2.50pm: IFM Investors 3.40pm: Break 4.00pm: Professor Andrew McNaughton 5.00pm: Finish The hearing will be broadcast live at aph.gov.au/live. Media inquiries Mr John Alexander OAM MP Electorate: 02 9869 4288 Parliament: 02 6277 4804 For background information Please contact the committee secretariat Phone: 02 6277 2352 Email: itc.reps@aph.gov.au

Options for improving how major rail projects are funded will be discussed at a videoconference public hearing on 17 August 2020 for the inquiry into options for financing faster rail.

Media release issue date: Friday, 14 August 2020

Options for improving how major rail projects are funded will be discussed at a videoconference public hearing on 17 August 2020 for the inquiry into options for financing faster rail. Mr John Alexander OAM MP, Chair of the House of Representatives Standing Committee on Infrastructure, Transport and Cities, said ‘governments have a responsibility to ensure that tax payer dollars are being used effectively on vital rail and wider infrastructure projects’. ‘Mr Steve Skinner will provide the committee with interesting evidence on opportunities lost for value capture, where infrastructure projects have created significant uplifts in land values,’ said Mr Alexander. The Property Council of Australia will provide a stakeholder perspective on planning and tax reform challenges and opportunities, including voluntary planning agreements and government investment in infrastructure projects through ‘asset recycling’, involving the sale or lease of existing public assets to the private sector. The committee will also hear from independent think tank Infrastructure Partnerships Australia about alternatives for funding major infrastructure. Public hearing details Date: Monday 17 August 2020 Time: 9.15am to 11.45am Location: Videoconference A program for the hearing is available on the Committee’s website. The hearing will be broadcast live at aph.gov.au/live. Media inquiries Mr John Alexander OAM MP Electorate: 02 9869 4288 Parliament: 02 6277 4804 For background information Please contact the committee secretariat Phone: 02 6277 2352 Email: ITC.reps@aph.gov.au Website: www.aph.gov.au/itc

The House of Representatives Standing Committee on Infrastructure, Transport and Cities will hold a videoconference public hearing on 21 July for its inquiry into options for financing faster rail.

Media release issue date: Monday, 20 July 2020

The House of Representatives Standing Committee on Infrastructure, Transport and Cities will hold a videoconference public hearing on 21 July for its inquiry into options for financing faster rail. The Committee Chair, Mr John Alexander OAM MP, said key stakeholders and industry experts will cover issues of rail priorities and practical approaches to financing infrastructure. The committee will hear from the Property Council of Australia, Infrastructure Partnerships Australia, the Urban Development Institute of Australia, and the Committee for Melbourne. ‘The MTR Corporation, Spacecon Australia Consortia and Tipping Point will draw on their international experience to discuss how innovate international approaches could be utilised in Australia.’ Mr Alexander said that a consistent message from groups is that it crucial that rail infrastructure planning is part of wider master planning and design of Australia’s cities and regions. ‘I am looking forward to hearing from this diverse range of witnesses,’ Mr Alexander said. Public hearing details Date: Tuesday. 21 July 2020 Time: 9.30am to 4.00pm Location: Videoconference A program for the hearing is available on the Committee’s website. The hearing will be broadcast live at aph.gov.au/live Media inquiries Mr John Alexander OAM MP Electorate: 02 9869 4288 Parliament: 02 6277 4804 For background information Please contact the committee secretariat Phone: 02 6277 2352 Email: ITC.reps@aph.gov.au

The House of Representatives Standing Committee on Infrastructure, Transport and Cities will hold a videoconference public hearing on 23 June 2020 for its inquiry into options for financing faster rail.

Media release issue date: Monday, 22 June 2020

The House of Representatives Standing Committee on Infrastructure, Transport and Cities will hold a videoconference public hearing on 23 June 2020 for its inquiry into options for financing faster rail. The Committee Chair, Mr John Alexander OAM MP, said that ‘to ensure that we get the most out of essential infrastructure projects, it is imperative that we consider the innovative funding models for major rail projects that are utilised both in Australia and around the world’. The Committee will hear from a range of groups and stakeholders on their views on priority areas for rail projects, and the role for the three levels of government in project planning, funding and facilitating effective public and private partnerships. ‘It is also crucial that when considering projects the Government consider what proportion can be funded by key beneficiaries and what should be funded by the broader community’, said Mr Alexander. Public hearing details Date: Tuesday, 23 June 2020 Time: 9.15am to 4.55pm Location: Videoconference 9.15am: National Faster Rail Agency/ Infrastructure and Project Financing Agency 10.45am: Break 11.00am: Economic Connections 11.40am: Canberra-Sydney Rail Action Group 12.20pm: Break 1.20pm: Swinburne University Centre for Urban Transitions 2.00pm: Prosper Australia 2.40pm: Break 2.55pm: New Haven Group 3.35pm: Arup 4.15pm: Value Advisory Partners 4.55pm: Finish The hearings will be webcast at aph.gov.au/live For media comment Please contact the Committee Chair Mr John Alexander OAM MP: Electorate: 02 9869 4288 Parliament: 02 6277 4804 For background information Please contact the committee secretariat Phone: 02 6277 2352 Email: ITC.reps@aph.gov.au Website: www.aph.gov.au/itc