Regionalisation drives higher economic growth

About the report

This is the first video and Briefing Note that make up the High Speed Rail for Regional Growth report for Fastrack Australia.

The report shows that a high speed rail network is needed to support the regionalisation of Australia, which will higher economic growth justifying the investment in the network.

This part considers the economic and liveability benefits greater regional growth will have for Australia.

Highlights

Regionalisation will drive higher economic growth in Victoria, making it a better place to live and work.

The argument for regionalisation of Victoria is built on three premises:

  1. Melbourne is a thriving city, but its urban sprawl is creating a drag on its productivity.
  2. Victoria’s productivity can be increased by creating a regional network of secondary cities tightly connected with Melbourne.
  3. Faster rail connectivity will encourage people and business to relocate to regional cities. Economic analysis shows that simply building a faster regional rail network will increase Victoria’s GDP by 5%.

The economic benefits of regionalisation justify the investment needed in faster regional rail services