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April 10th, 2013 
Peter Nolan
Updated
A high-speed rail link along Australia’s east coast would not be completed until at least 2053 and would cost $114 billion to build, according to a report to be released today.
The Federal Government’s final report says the rail link between Brisbane, Sydney, Canberra and Melbourne would require 1,700 kilometres of dedicated track and 144 kilometres of tunnelling.
A trip between Canberra and Sydney would take just over an hour, though trains would not begin running on the first section of track until 2030 at the earliest.
Federal Transport Minister Anthony Albanese has told AM the Government is serious about giving it further thought, and wants a public debate about the idea.
“It will have a transformational impact on how Australians live, work and travel,” he said.
“Some two-thirds of Australians live along the corridor of this proposed high speed rail line.”
Despite the multi-billion dollar price tag, Mr Albanese says the report shows the project would deliver a net positive economic benefit.
“It estimates that overall there is a significant economic benefit, a return of $2.30 to Australia’s economy for every dollar that is invested,” he said.
He says the Federal Government would contribute funding to the rail line, along with the states and territories.
The report, which was commissioned by the Government, estimates the rail line could attract about 84 million passengers a year.
“It’s expected that costs would be relative to current airfare alternatives,” Mr Albanese said.
“People shouldn’t expect $20 fares from Sydney to Melbourne. That isn’t realistic.”
“Horrendously expensive’
Opposition transport spokesman Warren Truss says the price tag is a huge barrier for the project.
He says he wants to check if the cost-benefit analysis is realistic.
“It’s certainly a great dream that people have been thinking about for a very long time but the cost of $114 billion estimated at this stage is obviously a huge barrier,” he said.
“The country has got $300 billion in gross debt and to find that extra money will obviously be a challenge.”
Griffith University’s research fellow Dr Matthew Burke agrees the cost could be a big stumbling block.
“It’s a horrendously expensive exercise,” he said.
“Just to get us involved in the east coast network to get from Newcastle and Brisbane will cost somewhere between $20 and $40 billion and at the upper end of the estimate that’s equivalent to the National Broadband Network,” he said.
But former deputy prime minister Tim Fischer says the line is feasible in spite of the huge price tag.
“On a Snowy Mountain Scheme calculated indexed for inflation, it is within reach,” he told ABC News Breakfast.
“It is a huge boost to transport infrastructure on two of the biggest city pairs in the world.”
Greens leader Christine Milne says the Government should now do an environmental impact assessment of the preferred route and set aside money to buy the land needed.
“I think it’s a practical option and an urgent [one] and I’m very excited by it,” she said.
“It’s why we did negotiate with Prime Minister Gillard to bring on high speed rail in Australia. One of the huge costs to business to the community is congestion through the airports, the time air travel is taking.”
Topics:
rail-transport,
industry,
business-economics-and-finance,
federal-government,
australia,
sydney-2000,
nsw,
melbourne-3000,
vic,
canberra-2600,
act,
brisbane-4000,
qld
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Source Article from http://www.abc.net.au/news/2013-04-11/government-to-release-high-speed-rail-report/4621880
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