Page 3898 - Week 12 - Thursday, 30 October 2014
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This project, which is likely to cost in excess of $800 million, is something which warrants the Assembly’s time, and if this does not warrant the attention of a committee then I do not know what does. Whilst the Assembly’s committee structure at present, whether it be through the estimates, public accounts or the planning, environment and territory and municipal services committees, has a role in reviewing the budget and the annual report for capital metro—indeed there have been a couple of hours of additional time allocated to the portfolio area—I believe a select committee needs to be established to properly go through what is entailed in the business case.
This business case should be a blueprint. It should be, in effect, the nuts and bolts of the benefits that a light rail system can bring to the ACT. And it is right and proper that that should be scrutinised. It is right and proper that a select committee should hear from the minister and also from the agency and any other concerned stakeholders that might like to give their views on the issue of capital metro and the business case being put forward by the government tomorrow.
Of course, we in the opposition do not know what is going to be included in tomorrow’s business case. However, for months we have heard the minister talk about this business case as being the silver bullet for the justification for light rail in Canberra. So if that is the case, if it is indeed the silver bullet, if it is indeed the irrefutable document that will pave the way for light rail in the territory, I think it is right and proper that it warrants analysis by all members of this Assembly in more detail and also that expressions of interest be sought through written submissions and through public inquiry from members of the public.
Many members of the public, through many unsolicited approaches to the opposition, and also the community in general, have come forward with their views about the light rail project. Just today, another person came forward with some analysis. Mr Flint published a report which was distributed this week which showed that the cost of capital metro, if an availability payment were made, would be between $99 million and $143 million per year.
It is an interesting observation. We have not been able to look into the veracity of his claims, but we do know that if this project is going to cost $1 billion and you put it at a rate of seven, nine or 11 per cent, it has to be in that vicinity. It has to be in that vicinity as an availability payment over 20 years.
So we are talking about very high stakes for the territory—in fact the highest stakes ever embarked upon. It is for that reason that I urge members of the government to support a motion which calls for additional scrutiny regarding the light rail project.
MR RATTENBURY (Molonglo) (4.24): I welcome the opportunity to discuss the issue of transparency of the capital metro project. We had a debate earlier this year, on 27 February, when Mr Coe brought forward a motion at that time and substantial additional time was allocated to the examination of the Capital Metro Agency through the committee processes of the Assembly, and commitments were made about additional time being made available. Certainly I know those discussions have been had in those committees through the course of the year, and there has been an opportunity to elicit a great deal of further information.
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