NATALIE BARR, HOST: It's been labelled the first stage of a 1800 kilometre high speed rail link between Brisbane and Melbourne. But will it ever happen? And how much will it cost? for more we're joined by Transport Minister Catherine King, live in Newcastle. Good morning to you. We have heard all this before. Is this really going to happen?

MINISTER FOR INFRASTRUCTURE, TRANSPORT, REGIONAL DEVELOPMENT AND LOCAL GOVERNMENT CATHERINE KING: Well, what we've done today is released the business case for High Speed Rail, particularly focusing on Newcastle to Sydney. We've also now announced we're investing in what's called the development phase. We'll be going metre by metre along the line, doing all of the detailed design work, designing the tunnels, designing the stations, to get this project ready for a final investment in 2028. We're very determined to bring high speed rail to Australia. We think it's time has come, but we've got to do this properly. We've learnt the lessons from projects overseas and failed rail projects here in Australia. So getting that detailed design work done properly, all of that engineering done, this is what the next phase is about. We're serious about it. We're a very purposeful government dedicated to making sure we take these decisions in a way sequentially, getting that information, and really that is what today is about, is announcing that next phase of development.

MATT SHERVINGTON, HOST: $660 million just to kind of get this project off the ground, and then potentially $90 billion to build it. One, can we afford it? And two, what does that mean for inflation here in Australia?

KING: Well, two things, the Sydney to Newcastle is around the $55 billion mark. It is absolutely clear we will require private sector investment, private capital, to build this. That $55 billion dollars includes an advanced manufacturing facility and all of the trains as well. So the construction cost of the actual rail line itself is around that $31 billion mark, which again, is a significant investment, but this is a project that will generate over $250 billion of economic activity in Australia, 99,000 jobs, the possibility of another 160,000 homes, and really cementing the Hunter as an economic powerhouse here in New South Wales. So the project, in terms of the economic opportunities it provides, are significant. But we are taking it step by step, making sure we've got a full understanding of the cost of this project. We'll make a final investment decision in 2028. It's why we're doing that detailed work to get it ready for that decision.

BARR: Minister, I think people are losing count how much this has been announced. I think twelve, thirteen times over 30 or 40 years. Do you understand the criticism that this is just a distraction away from ISIS brides?

KING: I don't understand that criticism because this project's been in, you know, we announced this back in the 2022 election campaign, that we were looking at High Speed Rail. We legislated and established the High Speed Rail Authority. We've had the business case. Infrastructure Australia has now done its assessment of the business case. We're now making a decision to invest in that development phase. This is the steady, purposeful work of government that we are getting on with now. This is a big investment in Australia's future, a big investment in the opportunities here in the Hunter, and that's what governments should do. They shouldn't be just looking on at the media cycle. They shouldn't be just looking at the immediate. They've got to look into the future. And that's what this government is doing with this project.

SHIRVINGTON: Speaking of distraction, this has also been called this as well, a letter from the PM to his British counterpart saying Australia backs removing Andrew, formerly Prince Andrew, from the line of succession. The British government hasn't even made up its mind yet. Do you think it's jumping the gun a little?

KING: No, not at all. I think it's providing that support to the UK Government. They've got a difficult decision to make. The relationship between the Royals and government is a very different prospect in the UK. They're really, you know, deeply embedded in the psyche of English citizens. And so they've got a difficult decision to make. We've signalled our early support that should the UK make that decision, then Australia will certainly back them in providing that opportunity, and certainly it can't happen without Commonwealth countries also agreeing to that. So giving that early support, I think, gives the UK Government some comfort when it is making that decision, that it's not out there on its own doing so.

BARR: Okay. Thanks very much for your time, Minister.

KING: Great to be with you here.