Support for Capital Metro light rail

Support for Capital Metro light railThe Property Council of Australia supports the ACT Government’s Capital Metro project. Property Council ACT Executive Director, Catherine Carter, said: “The $600 million Capital Metro project – with Stage One linking the city to Gungahlin and Dickson Town Centre – has the potential to create jobs, attract investment and provide economic uplift across the capital. “Critical infrastructure projects can build the nation and the economy – which is why the Federal Government committed an additional $11.6 billion for an ‘infrastructure growth package’. “We need our own critical infrastructure projects in the nation’s capital – and a project that can help Canberra become a more liveable, efficient and sustainable city ticks a lot of boxes. “At a time when the capital is facing an employment slump, the light rail project may create thousands of jobs. The NSW Government estimates that the Sydney light rail project will generate 10,000 jobs and add $4 billion to the NSW economy. The GoldLinQ light rail project on the Gold Coast generated around 6,0 jobs. These jobs aren’t just tram drivers and ticket collectors, but also people in construction, engineering, haulage and retail. “Canberra is unique, in that rail corridors were embedded in city planning – this makes the project a relatively straightforward proposition. “Of course, the devil is in the detail, and the big question is: who will pay for the project? “Industry is ready to champion Capital Metro, but we need to see costings and budgets, as well as a funding model. The ACT Government is considering the concept of ‘value capture’ – using an increase in land values to raise money for the project, as well as the introduction of a special rating zone. No matter which way you look at it, new taxes in the form of increases in rates or through development levies all amount to the same thing: another tax for an already overtaxed industry. “While how we fund light rail is up for debate, an integrated public transport system is essential for Canberra’s future as a city of opportunity.” For further information contact: Catherine Carter, ACT Executive Director, 02 6248 6902 or 0412 330 079