Malcolm Turnbull (Wentworth, Liberal Party, Prime Minister) Share this | Hansard source

The honourable member understands very well that the construction of infrastructure can, and very often does, add considerable value to real estate, and that value can be captured to support the cost of the construction of the real estate in many ways, and there are many options for doing that, some of which, as I said earlier, involve the party constructing the railway, for example—and I refer to some of the proposals the member for Bennelong has been an enthusiastic advocate for—owning that real estate and developing it themselves. There are many different models that have been practised in Australia but especially around the world. It is an important issue which is a matter of discussion in the urban planning universe, if you like, and is one where you need collaboration between landowners, developers, state government and local government. That is the importance of the city deals: rather than trying to imagine all wisdom resides in Canberra, having genuine collaboration.

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