Opposition leader pledges cash

As reported by the Illawarra Mercury on 21 January2015

Half of the proceeds from the long-term lease of Port Kembla port will be spent in the Illawarra under a NSW Labor government, Opposition Leader Luke Foley promised on Wednesday.

Labor has pledged that $380 million would be returned to the region if it is elected to government on March 28, compared with the $100 million allocated by the Liberal government.

Mr Foley said a dedicated Illawarra Infrastructure Investment Fund would be established to oversee the distribution of funds.

However, the government says the announcement lacks substance because the money has already been allocated to projects and no specific infrastructure commitments were made.

Mr Foley said the Illawarra had been ‘‘short-changed’’ when Port Kembla port was leased for $760 million in April 2013 and the region only received $100 million.

WTC Comment 

The $100 million committed prior to the sale was shown later to be inadequate. Wollongong needs more, with some of the proceeds of the long term port lease to be applied to improving rail access to Port Kembla.

This includes completing the Maldon Dombarton link, for which expressions of interest close soon.