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Category: Government and Politics / Rail Transport / Transport / Urban Development and Planning / Federal - State Issues

Cross River Rail may need 'innovative funding' to help cover cost

Friday, 8 Apr 2016 11:04:57 | Chris O'Brien

A look at the Queensland Government's vision for the Brisbane Cross River Rail project. (Supplied: Queensland Government)

The private sector could be forced to make a significant contribution to the $5.2 billion cost of expanding Brisbane's inner-city rail capacity, with what acting Premier Jackie Trad calls "innovative funding".

With state and federal funding yet to be committed for the Cross River Rail proposal, Ms Trad said business should also pay for the benefits it would receive.

"Projects of this size and significance can't happen without every jurisdiction making a contribution - state, federal, local governments, as well as the private sector," Ms Trad said.

"We're also looking at some innovative funding models.

"In London, Crossrail has been delivered through a mechanism called 'value capture', where areas around the infrastructure project get to pay a contribution because they value-uplift in terms of their properties and businesses.

"It's very much in its infancy. We are looking at how we can actually identify those areas that will be ready for development, where businesses can be placed and flourished, and how they can contribute to the actual delivery of this infrastructure project."

Ms Trad also continued to reject the LNP's preferred version of the project, a combined bus and train tunnel that was planned under the Newman government.

A map showing where the line and stations for the Brisbane Cross River Rail would go. Photo: Green shows where the line and stations for the cross river rail would go. (Supplied: Queensland Government)

"When [federal] Labor was last in power they put money of the table [for Cross River Rail]," she said.

"It was [former premier] Campbell Newman, [former treasurer] Tim Nicholls, [former transport minister] Scott Emerson that walked away from that deal and came up with a crazy idea of putting two modes of transport in the same tunnel.

"If something went wrong in that tunnel, the whole transport system would collapse."

Opposition spokesman Tim Nicholls said buses needed to be part of the plan.

"This proposal doesn't seem to do anything about buses and we know that's the big problem on the Victoria Bridge," he said.

"There is a capacity constraint in relation to buses going in and out of the city."

He said the state could not expect any commitment from the Commonwealth until the business case was done.

"The federal minister responsible for city infrastructure said we want to see a business case, but he also reminded people that the Federal Government was not a walking ATM," Mr Nicholls said.

"They're not there simply to dole out the money for projects that haven't been properly costed and aren't delivering the right solutions at the right time."

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