Unlocking capital tied up in the State’s energy assets can turbo-charge investment in infrastructure crucial to the economy and communities across NSW.
The Property Council of Australia today welcomed release of the Tamberlin Inquiry Report into past transactions – and future options – involving energy assets.
“We need to move past the false starts and politics that have inhibited sensible debate around the State’s energy assets,” NSW Executive Director Glenn Byres said today.
“This should be about economics, not ideology – and economics should lead NSW to unlock the capital tied up in energy assets for use on infrastructure renewal.
“Our freight network, public transport and road systems and other vital infrastructure are in desperate need of a new wave of investment.
“NSW needs to turbo-charge funding of our infrastructure to improve the economic productivity of our State, cities and regions.
“Infrastructure NSW is currently preparing a pipeline of major projects that should be prioritised and sequenced – and in turn, funded through Restart NSW.
“Whatever the final order, NSW will be able to accelerate their delivery with the additional capital unlocked from the State’s energy assets.”
My Byres said the Property Council has consistently promoted priority projects including an intermodal freight network for Sydney, North-West Rail Link, and M4 East and extensions to Port Botany.
“Everyone recognises that giving life to these projects will require an enormous capital injection,” Mr Byres said.
“NSW can wisely reinvest in these projects using the multi-billion dividend it would secure from a sale or long-term lease of energy assets.”
Media contact: Glenn Byres, NSW Executive Director, 0419 695 435.