Ministers for the Department of Infrastructure, Regional Development and Cities The Hon Michael McCormack MP Deputy Prime MinisterMinister for Infrastructure, Transport and Regional Development Senator the Hon Bridget McKenzie Minister for Regional ServicesMinister for SportMinister for Local Government and Decentralisation The Hon Alan Tudge MP Minister for Cities, Urban Infrastructure and Population The Hon Sussan Ley MP Assistant Minister for Regional Development and Territories The Hon Andrew Broad MP Assistant Minister to the Deputy Prime Minister The Hon Scott Buchholz MP Assistant Minister for Roads and Transport The Hon Barnaby Joyce MPFormer Deputy Prime MinisterFormer Minister for Infrastructure and Transport The Hon Dr John McVeigh MPFormer Minister for Regional Development, Territories and Local Government The Hon Keith Pitt MPFormer Assistant Minister to the Deputy Prime Minister The Hon Damian Drum MPFormer Assistant Minister to the Deputy Prime Minister Senator the Hon Fiona Nash Former Minister for Regional DevelopmentFormer Minister for Local Government and Territories The Hon Darren Chester MP Former Minister for Infrastructure and TransportFormer A/g Minister for Regional DevelopmentFormer A/g Minister for Local Government and Territories The Hon Warren Truss MP Former Deputy Prime Minister Former Minister for Infrastructure and Regional Development The Hon Paul Fletcher MP Former Minister for Urban Infrastructure and Cities The Hon Jamie Briggs MP Former Assistant Minister for Infrastructure and Regional Development

Cross River Rail proposal

Media Release

DC038/2016

07 April 2016

The Turnbull Government stands ready to work with the Queensland Government to progress the Brisbane Cross River Rail proposal, following today's announcement by the Queensland Government of the establishment of the Cross River Rail Authority.

The project offers significant scope to explore innovative financing solutions, particularly to harness the land value generated as a result of this major public investment.

The Queensland Government have undertaken to provide a business case to Infrastructure Australia for assessment later this year.

As the project will likely require over $100 million of Commonwealth funding, under the Infrastructure Australia guidelines, the Australian Government must wait for the outcome of this assessment prior to committing capital funding.

During this planning phase, the Commonwealth will work with the Queensland Government on project design to maximise the value created to contribute to the construction costs.

Labor leader Bill Shorten's commitment today of funding for Cross River Rail is essentially meaningless.

He says money will come from Labor's 'Concrete Bank' but this $10 billion fund has already been cited by Labor as the funding source for over $30 billion worth of projects. Of the $10 billion, most is borrowed money and the rest comes from a fund that is already fully allocated to other worthwhile projects.

The Turnbull Government has a $50 billion infrastructure investment programme and next year the Commonwealth will invest more in transport infrastructure than ever before in Australia's history.