BUDGET 08/09: Building fund should be used to drive private investment: QR

By: Jason Whittaker


Rail freight company QR Limited says the Government needs to use the Building for Australia Fund to provide an incentive

Rail freight company QR Limited says the Government needs to use the Building for Australia Fund to provide an incentive for more public-private partnerships.

QR Chief Executive Lance Hockridge says the Government’s $20 billion fund has the potential to lift private investment in transport infrastructure but significant moves must be made at slashing red tape and delivering key infrastructure projects.

QR wants more focus placed on the rail network, which has suffered from woeful underinvestment in areas such as regional Victoria, as well as intermodal hubs.

"With the right infrastructure in place, companies like ours will have the incentive to invest in the rolling stock, facilities and workforce to ensure we contribute fully to the economic potential of the nation," Hockridge says.

"The challenge now is for the Government to continue to lead by providing an environment in which the private and public sectors have the incentive to jointly fund and develop this infrastructure with a minimum of bureaucratic red tape."

Hockridge says QR will be closely monitoring the development of national infrastructure projects, which Treasurer Wayne Swan placed important emphasis on when handing down the federal Budget.

"There’s clear acknowledgment that we’re living with the economic legacy of under-investment in national transport infrastructure," he says.

"The importance of the task cannot be underestimated because the efficient movement of freight is vital to Australia’s future economic prosperity."

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