The ACT Government’s light rail project will receive a $60 million funding boost through the Federal Government’s asset recycling program.
The ACT Government would sell off almost $400 million worth of assets under a new deal signed by Chief Minister Andrew Barr and Federal Treasurer Joe Hockey.
Mr Barr said that money, along with the $60 million funding boost from the Federal Government, would be invested into the light rail project over the next four years.
The ACT is the only jurisdiction to have signed off on an agreement to allow the mass privatisation of government-owned assets in exchange for extra infrastructure funding from the Federal Government.Under the scheme the Territory is eligible for a 15 per cent bonus from the Commonwealth Government when it sells surplus assets to pay for new infrastructure.
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