Sydney can t afford to wait on infrastructure

Sydney can’t afford to wait on infrastructureNew rail and road projects to tackle congestion will be deferred or axed under Labor’s infrastructure plan without the revenue from asset recycling, according to the Property Council of Australia.The Property Council’s members own major commercial office, retail, industrial, hotel, retirement living assets and develop residential projects across Sydney.The Property Council’s NSW Executive Director Glenn Byres said the projects stalled by Labor were essential in lifting productivity across Sydney.”We can’t afford to kick the can down the road any longer as congestion is going to cripple the city – yet Labor is doing that with its refusal to lease the poles and wires,” Mr Byres said.”There is no case for halting investment when asset recycling will produce the funds needed to start work on the next generation of major projects.”The rail and road projects to be seeded by asset recycling are essential in getting people to and from work, connecting markets and making Sydney a more liveable city.”The second harbour rail crossing enhances patronage through the CBD, which has a workforce projected to grow by 100,000 over the next 15 years.”But its real value lies in expanding capacity across the network, connecting emerging markets north and south and integrating the new north-west line into the system.”Nor should we leave WestConnex in limbo and ditch the central link given the project is crucial in servicing the expanding freight task facing the city and jobs growth in Sydney’s west.”It should also be remembered that former Labor Premier Bob Carr signed the inter-governmental agreement to rid NSW of nuisance taxes on business.”Extending them would hamper NSW in the race for capital.”Media contact: Glenn Byres, Executive Director New South Wales: 0419 695 435