Malcolm Turnbull aboard Brisbane to Melbourne rail plan?

A MULTIBILLION dollar high-speed rail line between Melbourne and Brisbane could become a key plank of Prime minister Malcolm Turnbull's re-election strategy.

Mr Turnbull is reportedly considering funding the project through federal funding combined with a 'value-capture tax' - essentially an increased land tax on developers, who would benefit from the infrastructure running near their properties.

ARM has previously reported the value-capture tax proposal was being considered a key part of the Turnbull government's May budget, despite developers being hesitant if the proposal would increase their overall tax burden.

The Australian reported this morning Mr Turnbull wanted to expand a rail line to Sydney's proposed second airport at Badgery's Creek, to go all the way to Goulburn, while a similar line could run from Melbourne to Shepparton.

The former Labor government completed a major feasibility study of a high-speed rail line between Melbourne and Brisbane, putting the potential cost of the project anywhere between $60 billion and over $110 billion.

-ARM NEWSDESK


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