New research shows asset recycling favoured way to pay for infrastructure

New research shows asset recycling favoured way to pay for infrastructureNew research that shows the majority of NSW voters favour paying for infrastructure through asset recycling over alternative options has been welcomed by the Property Council of Australia. The Property Council’s members own, finance and develop major commercial office, retail, industrial, hotel, retirement living assets and develop residential projects. The Property Council’s NSW Executive Director Glenn Byres said the findings are no surprise. “Sydneysiders are tired of living in a congested city with neglected infrastructure and understand governments need to find sensible ways to pay for new projects,” Mr Byres said. “They see the case for investing in new rail and road projects every time they’re stuck in a traffic jam, on an overcrowded train or late getting to and from work and home. “Creating a substantial pool of funds to underpin major projects gives Sydney a chance to enhance its standing as a global city – and connect new and emerging markets north, south and west. “We can’t afford to wait forever for projects like the second harbour rail crossing, so we need to find ways to pay for it. “The community knows proposals like leasing the residual energy assets make more sense than cutting services or raising taxes to pay for infrastructure. “The next generation of major transport projects will help cut congestion, improve travel times and make Sydney a more productive and sustainable place to live and work.” Media contact: Glenn Byres, Executive Director New South Wales: 0419 695 435