New Roads, New Rail Lines, New Profits: Privatisation and Sydney's Recent Transport Development

Abstract

Since the late 1980s, fiscal pressures have led the State government to encourage private sector financing, construction and operation of new expressways and rail lines in Sydney. The resulting deals have given excess returns to the private sector. They have also resulted in private sector-led priorities which have reduced total network efficiency. In addition, private sector provision has been biased toward highway, not rail, provision which has worsened negative externality and equity impacts of the overall transport system.