Commentary

Toll Roads ‘Deliver $23 Billion to Sydney’

About 15 years ago, the government of New South Wales abandoned its previous policy of not building modern expressways in Sydney, since traffic congestion had become unbearable. But instead of building freeways, they opted for toll roads. And instead of traditional government contracting, they engaged the private sector to finance, develop, operate, and manage what has become a large network of investor-owned toll roads. The benefits of this high-quality infrastructure to the metro area’s economy have now been estimated at $1.9 billion this year along, and projected to reach $3.4 billion by 2020. ABC News in Australia:

A report has found toll roads will have delivered an economic benefit of $22.7 billion to Sydney from 1986 to 2020, 15 percent higher than previous estimates. Accountancy firm Ernst and Young says its study was the first to include the social benefits of toll roads, such as increased business, employment opportunities, improved access to areas for employment and housing.

Providing faster and more reliable auto-mobility has increased the vitality of Sydney’s economy. We should learn from this example and do likewise. Reason Foundation’s Transportation Research