$74 BILLION BLACK HOLE EXPOSED

MEDIA RELEASE | September 10, 2012

$74 BILLION BLACK HOLE EXPOSED

MOTORISTS TO PAY $22 BILLION ROAD TOLL BILL

DIRECT TRAINS FROM THE NORTH WEST TO THE CBD 20 YEARS AWAY

Reports today reveal there is a $74 billion black hole in the O'Farrell Government's Transport Masterplan and more 'back of the envelope' calculations include charging motorists an extra $22 billion in tolls over the next 20 years.

Leaked cabinet documents reported today reveal the O'Farrell Government will also look at delaying or cancelling projects announced only a week ago including the Second Harbour Crossing and upgrades to Wynyard, Town Hall and Central Stations – in order to plug the funding gap.

Opposition Leader John Robertson said the O'Farrell Government's plan to fix Sydney's transport woes is now in complete disarray.

"The Government's Transport Masterplan has been exposed as nothing more than a glossy brochure with no funding attached," said Mr Robertson.

"Only a week ago the Premier called himself JJ Bradfield and promised to fix every road and rail-line in the State – but now that promise is in tatters.

"To make matters worse – the Premier's only solution to the funding black hole is to ask motorists to pay more.

"According to today's reports, motorists will be forced to pay an extra $22 billion in tolls over the next 20 years or $750 per household per year.

"This will see the average Sydney household fork out $15,000 extra in road tolls over the next two decades to pay for Barry O'Farrell's ill-conceived transport plan.

"The Premier said nothing about these extra tolls at the last election – in fact, he promised to ease cost of living pressures, not exacerbate them.

"In light of these reports – Barry O'Farrell needs to release the full cost breakdown and funding plan for the Transport Masterplan today.

"The people of Sydney deserve to know – what projects will be built and where will the money come from?"

Shadow Minister for Transport Penny Sharpe said the news that the Second Harbour Crossing will be delayed until at least 2023 confirms people from the north-west will have to wait 20 years to catch a train direct to the CBD.

"Barry O'Farrell's key election commitment, the North West Rail Link, is no longer," Ms Sharpe said.

"It has become the Hills to Chatswood shuttle that will take 20 minutes longer than the bus.

"If the Government delays upgrades to Wynyard, Town Hall and Central Stations public safety will be put at risk.

"The Premier needs to explain today what action it will take to ensure we don't see tragic accidents occur at our major city train stations."