Federal Opposition Leader Bill Shorten has revealed his plan to fund 10 major infrastructure projects across the country.
Queensland would be a real winner, but the Liberals have slammed the plan saying it lacks any detail.
Nick Kelly reports.
The $10 billion ‘concrete fund’ is aimed at spurring private investment in public projects.
Five on the radar in Queensland including the Cross River Rail tunnel the next Gold Coast Light rail and the M1.
Announcing the project in Brisbane today, Bill Shorten said investment is long overdue.
Bill Shorten, Opposition Leader: “Every dollar we invest returns three to our economy, these are the concrete benefits of viable infrastructure investments.”
Although he said he was “favourably disposed” to a new stadium for Townsville, he also said federal labor wasn’t committed.
Annastacia Palaszczuk, Queensland Premier: “It is an important investment for creating jobs in that region and its something that he has said he will talk to his colleagues about and give due consideration to, so I think it is on the radars of both political parties at the moment.”
The aim is to use an independent body to kickstart projects, before handing them over to private investors.
Bill Shorten, Opposition Leader: “Taking the politics out of decision making and putting long term, generational decision making at the heart.”
The Turnbull government has its doubts about where the money’s coming from.
Of course funding is an issue, the plan is to tap into Australia’s $4 trillion superannuation pool to pay for the projects. Whether nor not Australians agree is yet to be seen.
Queensland’s opposition says federal Labor’s infrastructure plan is nothing more than a thought bubble that lacks any detail.
Nick Kelly, QUT News.