We want our share of light rail funding

Gold Coast Mayor Tom Tate said the Federal Government did not need to find additional funds for Light Rail Stage 3A - “we just want our fair share’’.

Mayor Tate said today’s Transport and Infrastructure Committee resolved to formally lobby the Commonwealth Government - and Opposition - to make a pre-election commitment to meet any shortfall in light rail funding (Stage 3A). The shortfall is estimated at $45 million.

“The Feds need to find another $45 million to meet the same proportional funding they provided for Light Rail Stage2. It’s that simple,’’ he said.

“This additional money is just 1.125 percent of the Federal Government’s recently-announced $4 billion Urban Congestion Fund. That’s our city’s fair share and we want it.

“The $4 billion was part of a broader $110 billion allocation towards roads, rail and carparks.’’

*See Federal Media Statement link at end.

Mayor Tate said the Federal announcement confirmed that the cost of congestion in Australia's capital cities was $25 billion per year, projected to reach $40 billion by 2030.

“Council has been consistent in its funding model throughout the previous two stages. The State Government has carried the load with their funding over these stages, and both the Prime Minister and Federal Opposition leader have currently committed $112 million (to stage 3A).

“What both the State and Federal levels appear to be missing is that there is a huge economic upside to this project. Increased land values, increased stamp duty turnover and increased market activity all benefit the Federal and State budgets.

“We are Australia’s No 1 tourism destination and light rail direct to the airport is essential. It will mean less cars on the roads, increased property prices, increased rates and an economic upside for all levels of Government.

“Both the Prime Minister, and Opposition leader, have claimed credit … it’s now time to flex your credit cards.’’

https://minister.infrastructure.gov.au/mccormack/releases/2019/april/budget-infra_01-2019.aspx