AusRAIL, Market Sectors

Bracks victory helps channel-deepening case

<p>Victory for the Bracks Government in Saturday’s (November 25) Victorian election should remove any uncertainty over the future of the state’s rail track and clear the way for the port of Melbourne channel-deepening project, provided it receives environmental approval.</p> <p>However, there is still some doubt over the make-up of the Upper House and the possibility remains of the Greens holding the balance of power, which could have implications for the channel-deepening project.</p> <p>The Labor Party won a third term on Saturday, looking likely to secure a majority of 22 seats in the new Parliament, down from 36.</p> <p>Labor’s primary vote fell by around 3.5%, all of it going to the Family First party in its first Victorian election.</p> <p>The Liberal primary vote had dropped by 0.7% to 33.8% at last count.</p> <p>Mr Bracks is expected to announce a Cabinet reshuffle later in the week and while the media is speculating that four present ministers are set for the chop, transport minister Peter Batchelor is not listed among them. </p> <p>Mr Batchelor may look to change his portfolio in due course, with Carlo Carli viewed as a possible replacement, but this is nothing more than speculation.</p> <br />