Federal infrastructure minister Michael McCormack has again defended the Government’s decision to fund Inland Rail via an equity model, despite ongoing criticism from the Opposition.
McCormack was questioned on Melbourne radio at the end of last week over the Labor Party’s continued labelling of the equity funding model as ‘phoney funny money’.
Asked if the Coalition’s equity funding model was “flawed,” McCormack was quick to tell ABC Melbourne’s Virginia Trioli, “No, it’s not”.
“That’s why I’ve also put on board Warren Truss to head up the ARTC, looking after this project,” McCormack added.
Truss, the former leader of the Nationals who was replaced by Barnaby Joyce and then McCormack, was named chair of the ARTC in April.
The ARTC – the Government-owned track owner responsible for Inland Rail – is the body through which the Government is funnelling its equity injection.
“Warren Truss is very well known right across the nation as far as stakeholder engagement, making sure that all the I’s are dotted and the T’s are crossed,” McCormack said on August 9.
“He worked well with Federal Labor, indeed across the states, he’s continuing to do that.”
McCormack also downplayed concerns from the Opposition that Inland Rail lacks clear and achievable deadlines.
“We will get this project up and running,” he said. “It will be, as I say, transformational. It is going to get product from farm gate, indeed paddock to port to market within 24 hours to port. So that’s tremendous.
“The first 600 tonnes of steel were dropped off at Peak Hill in Central Western New South Wales on 15 January. Red-letter day as far as the project’s concerned. It’s a goer. It’s going to be built.
“This is going to be a great piece of nation-building infrastructure and the funding model’s right. The project’s right. We’re getting people on board. It’s a good project. And as I say it’s been discussed for many, many decades, time to get on and do it.”