High-speed rail – wishful thinking or the inevitable?

It’s commonplace in many global cities – a high-speed rail link to get you from A to B. No waiting around in airports, no need to turn off your electronics; just sit back and look out the window until you reach your destination.

Here in Australia, the idea has been touted for decades. Many people claim a high-speed rail-link between Melbourne and Sydney is without doubt the way of the future.

But is it ever actually going to happen?

The Federal Government released its report looking at the viability of the line this week – and it concluded that it does in fact look viable.

It won’t be cheap – $114 billion is the initial estimate – but as those passionate about public transport have gone hoarse over the years saying, public transport should not be looked at as a cost, but an investment that will pay itself off over its lifetime.

The proposed system would carry 84 million passengers a year and the first train wouldn’t hit the tracks until 2035.

RTBU National Secretary has been selected to sit on the Federal Government’s expert panel looking into the issue.

He says that rather than scoffing at the price tag, we should be thinking about innovative financing options to ensure it happens.

Value capture and designing a similar model to the NBN are the initial ideas Bob Nanva has for finding the finances to get the project on track.

You can see the government’s full report here.

Do you think the Federal Government is serious about introducing the rail line? Will we see high-speed rail in Australia in our lifetimes? Do you have any ideas for financing the system?