Australian budget

High speed ponzi rail pivots into the regions

Leith van Onselen
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By Leith van Onselen

For years MB has explained why it does not support the proposed $120 billion High Speed Rail (HSR) line linking the major eastern cities of Brisbane, Sydney, Canberra and Melbourne, due to:

  • The exorbitant cost associated with building and operating the rail line;
  • Lack of population density to support the project; and
  • Lack of competitiveness against air travel unless there are massive ongoing operational subsidies from taxpayers.

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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.