Australian Prime Minister Tony Abbott with NSW Premier Mike Baird at a press conference to mark beginning of the Westconnex construction in Sydney, Sunday, Mar. 8, 2015.
Australian Prime Minister Tony Abbott with NSW Premier Mike Baird at a press conference to mark beginning of the Westconnex construction in Sydney, Sunday, Mar. 8, 2015. AAP Image - Nikki Short

Baird set to cash in on $2bn of Abbott's asset lease scheme

THREE weeks out from the polls, the NSW State Government is cashing in on a $5 billion Abbott Government scheme.

NSW will use its $2 billion share of the national Asset Recycling Initiative funds to pay for major road and rail projects.

Premier Mike Baird said proceeds from leasing 49% of his state's electricity network would boost jobs and the economy.

The scheme encourages the sell-off of state and territory-owned assets with profits used to pay for infrastructure which will improve the economy.

So far only NSW and the ACT have put their hands up for the money.

"Traffic queues and crowded trains are costing the NSW economy up to $8.8 billion a year," Mr Baird said in a media release.

"Better infrastructure means less time spent commuting and more time spent productively at work or at home with family."

- APN NEWSDESK


Koala tree planting volunteers needed

Koala tree planting volunteers needed

Koala Tree Planting Day in Bangalow

Collective is never letting up

Collective is never letting up

Fighting against accommodation disruption

Parmas serve farmers

Parmas serve farmers

Remember to eat generously

Local Partners