Forum on High Speed Rail - the ‘intellectual silk road’

It is a great pleasure to open this Forum on High Speed Rail or - HSR as it’s known.

I suppose in one form or another this is the third time a similar gathering has been held in Canberra on this topic. I am hopeful that this time is third time lucky.

As you know the idea of an east coast high speed rail link has been around awhile. 

The first serious Very Fast Train study was conducted in the late 1980s by a BHP-led consortium which investigated a possible Sydney-Canberra-Melbourne network.   

Following this, the ACT was a participant in the Very High Speed Train study in the late 1990s - looking at the Speedrail proposal for a TGV service between Canberra and Sydney. 

The ACT Government was then - and remains - a strong supporter of the proposal. 

In fact we were the only jurisdiction to list HSR as a priority for consideration by Infrastructure Australia in 2008.  

We are heartened the project has now been brought forward by the Federal Labor Government. 

I am heartened because of the way it’s being approached.

Given the expected growth in the freight task – and population growth – I don’t think there is any rational commentator who is arguing against this proposal.

I don’t think anyone underestimates the magnitude of the project.  At a current estimated price tag of over $100 billion this is obvious.

Equally – I don’t think anyone is under any illusion that this proposal will happen overnight.

It is by any measure a massive project.

It will have far-reaching economic impacts – not dissimilar from those of the Snowy Scheme or the NBN.

Unlike the latter – happily this project has – so far – enjoyed bi-partisan – even tri-partisan support.

Importantly – this project – this time – is not being examined in a flurry of promises.

In fact what the Federal Labor Government has sensibly done is to recognise it’s a project requiring long-term thinking and a number of steps if it is to become a reality.

And the first step is to examine, choose and preserve the route.

That’s the process we’re in now.

This recognises that a project like this requires forward planning so that when the time comes – the track can be laid. 

This is a project of national significance – and I will leave it to other speakers this afternoon to explore this aspect. 

In the brief time I have today I would like to touch on the positive impacts the HSR project could have on the ACT. 

Rail is without question the most energy efficient form of land transport. As such it will better link Canberra into the national low-energy future. 

Whilst the infrastructure will have a role in freight transport – our main game in the ACT is knowledge. 

By providing very fast links between Canberra, Sydney, Melbourne and even Brisbane - it will be the ‘intellectual silk road’ by which Canberra- based knowledge businesses trade with Australia’s major population and commercial centres. 

It will have an important role in supporting the ACT’s $1.5 billion tourism industry – and the 13,500 Canberrans who work in it. 

It will do so directly – and indirectly. HSR will provide yet another convenient and cost-competitive way for visitors to come here.   

I mentioned freight earlier. With – for the first time ever – decent rail links between Canberra and Sydney in particular – the HSR will help secure Canberra airport’s role as a freight link to Sydney. 

This is good news for the ongoing viability of our airport - which in itself is such a vital link for Canberra’s tourism industry. 

The labour impacts of the HSR for Canberra would be significant also. 

There’d be a significant boost to job creation and our local economy during the construction phase.  

This initial spike in activity would be replaced over the longer-term with new jobs created to maintain and operate the new HSR network. 

For example – I can’t see why the ongoing control and management of this national rail network would not be based in Canberra – creating ongoing, highly skilled jobs. 

The HSR would also open the door to a larger pool of labour – increasing labour mobility. 

This would make it easier for local businesses to be able to draw on a larger skilled labor force, lifting productivity and allowing for greater job creation in the ACT and region.  

This employment growth will in turn encourage greater consumer spending. 

This will permeate through all sectors of the ACT economy, encouraging further economic activity and job creation. 

In summary – the economic and environmental benefits of this project in the long-term are obvious – as are the costs. 

That’s why – as I said earlier - I am heartened that the vision of an east coast high speed rail network is being examined in a measured way. 

I am heartened that a stepped approach – starting with the identification of the route – is being taken – and that a largely bi-partisan and long-term approach is being taken. 

As we move to a clean energy economy the conditions for this project to become a reality are materialising. 

It’s a project whose time – if not already here – is just around the corner. 

And when it does it will be good news for the ACT and our region. 

That’s why the ACT Labor Government remains committed to doing whatever we can to ensure the HSR becomes a reality – and that the Canberra community can take best advantage of it. 

Before I conclude I’d like to congratulate the Canberra Business Council for arranging this symposium today – as the first step to helping us ensure Canberra is ready for high speed rail.