The ALP has decided to sell off the Gateway Arterial Road, which is part of the National Highway, and the Logan Motorway, which is the main route for western suburbs residents to get to the Gold Coast.
The Federal Government has said it will not maintain private roads, perfectly understanable.
As a preliminary move the Government announced some time ago that tolls would be increasing by 30%. This is to make the tollways more appealing to private purchasers.
QLD Not For Sale privatisation sheets.
It doesn’t make senseThis is the Queensland State Government's stance on the sale of assets.
Here’s a snapshot of what the government will be giving up in annual revenue:
- Queensland Rail: generates over $3.5 billion
- Port of Brisbane: operating profit of almost $500 million in 2007/08
- Queensland Motorways: in 2007/08 there was a 13% increase in toll revenue taking profits to $161 million AND an 11% increase in net operating cash flows taking profits to $60m
- Forestry Plantations Queensland: achieved a $29.6 million trading surplus in 2007/08