The big end of town is highly critical of one aspect of an independent review into the city’s patchwork of tolled motorways.
Big business is moving to head off any law changes that override existing deals for tolls on Sydney’s motorways, arguing it will knock large investors’ trust in the NSW government and risk undermining future infrastructure projects.
The nation’s peak business group has told Fels that it is “deeply concerned” about the proposal to use legislation to override existing toll road agreements.Business Council of Australia chief executive Bran Black said companies had entered into contracts with government in good faith and changing legislation to now override them unilaterally presents a “tangible case of sovereign risk”.
Black, the former chief of staff to ex-premier Dominic Perrottet, said it risks undermining future infrastructure projects and major national priorities such as a shift to net zero carbon emissions. Fels has said legislation is needed to make Sydney tolls more consistent because too many parties such as investors, debt issuers and banks were involved to allow that to happen voluntarily.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Susan Anderson, Uber’s new global grocery boss, has big plans to shake things upUber’s new global grocery and retail head says that the online penetration for the $130 billion Australian grocery market is still low. She predicts a major step change within the next few years.
Read more »
South Sydney set for spine shake-up; high-flying Sea Eagles face big blow — Team TipsNRL: Penrith Panthers coach Ivan Cleary speaks to the media after their round 8 win against the Cowboys.
Read more »
News boss quits in big Seven shake-upThe Seven Network has announced a huge shake-up in the wake of the Spotlight scandal with news chief Craig McPherson stepping down and West Australian editor Anthony De Ceglie moving to Sydney to take on the role.
Read more »
Big F1 shake-up that has angered drivers explained ... and why fans are the big winnersF1: Albert Park in Melbourne will host the season-opening race of the 2025 Formula One season.
Read more »
Ridiculous 9am pic proves Sydney is insaneJust when you thought Sydney had hit peak Sydney, it does the most Sydney thing possible and out-Sydneys itself in a fresh blaze of glory.
Read more »
Foreign student changes: Why did drop a big policy change at 6pm last Friday?While the media scrambled to get across a housing announcement late Friday, the government quietly dropped long-awaited changes to foreign student numbers.
Read more »