A Sloane Liberal and Nationals Government will establish a Sydney Metro Investment Fund to attract private capital and help deliver an expanded Metro network, connecting more people to jobs, homes and opportunities.
The Metro Investment Fund would be established with initial government seed funding, supported by annual investments to provide long-term funding certainty and a sustained pipeline of projects.
This would provide a foundation to attract private investment, including from Australian superannuation funds, through public-private partnerships, co-investment and development opportunities above and around Metro stations.
The fund would also seek to harness some of the increase in land values created by new Metro connections to help finance further expansion, while coordinating transport investment with new housing, commercial development and employment precincts.
Government contributions to the fund would be determined through the budget process, with individual projects subject to rigorous business cases and value assessments.
It forms part of the Liberals and Nationals’ broader plan to deliver the transport infrastructure a world city needs including:
- Three-minute Metros: Pursue more frequent peak-hour services by expanding the fleet.
- Metro for South Western Sydney: Progress planning for the next stage of the network, including a potential extension from Bradfield as part of a new Western Sydney City Deal.
- Sydney Metro Investment Fund: Create a long-term framework to partner with superannuation funds, infrastructure investors and the private sector to help finance future Metro projects.
NSW Opposition Leader Kellie Sloane said Sydney needed a transport vision that looked beyond individual projects and election cycles.
“The Liberals and Nationals built the Metros. Our ambition is to expand the network, connecting more people to jobs, homes and opportunities across Sydney,” Ms Sloane said.
“A growing city cannot afford to plan its transport network one election at a time. We need to make the Metro we have work harder, plan the next connections and secure the investment to keep building.”
“Giving industry a clearer pipeline of future projects will also help secure investment in the people, skills and equipment needed to keep Sydney building. Every agreement must stand up to independent financial scrutiny, with clear responsibilities for costs, risks and delivery.”
“Government cannot keep forcing taxpayers to bear the entire cost of these major projects when there are other options that can attract private investment, share the cost and help bring new Metro connections forward.”
Labor doesn’t have a plan to grow the NSW economy or deliver the infrastructure Sydney needs, with the infrastructure pipeline drying up in the coming years. Their answer is to say it’s all too hard and throw their hands up. We don’t accept that, we have a plan to grow our economy and to expand the Metro network.
