Legislation to enable lease of Port of Melbourne passes Legislative Assembly

THE Victorian Government last week said it getting on with its commitment to lease the Port of Melbourne to support the funding of the removal of our 50 worst level crossings, as well as other major road and public transport infrastructure projects.

Last Thursday, the Delivering Victorian Infrastructure (Port of Melbourne Lease Transaction) Bill 2015 passed through the Legislative Assembly. The Bill will now make its way to the Legislative Council for consideration.

Port of Melbourne
Above: Port of Melbourne / by Chris Phutully.

If successful, proceeds from the lease of the Port of Melbourne will go to the Victorian Transport Fund (VTF), to be used to support projects such as level crossing removals, the Melbourne Metro rail tunnel and the West Gate Distributor.

According to the government, the VTF will also support projects that help relieve traffic congestion and improve access to the port.

Treasurer Tim Pallas said that before the election, Labor promised to lease the Port of Melbourne and use the proceeds to provide crucial infrastructure for Victorians.

"Leasing the port means we can pay for the removal of our 50 worst level crossings, create thousands of jobs, get Victorians home safer and sooner and still protect our AAA credit rating," Mr Pallas said.

Photo: Port of Melbourne / Chris Phutully / Licensed under Creative Commons BY 2.0.

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