This proposal would provide equity funding for an east coast high speed rail project, as laid out in the High Speed Rail Study Phase 2 report (the report) released on 11 April 2013.  From 2019‐20 to 2029‐30, the proposal would provide funding for:

• the creation of the High Speed Rail Authority to undertake preliminary works for all five stages of the project from 1 July 2019
• stage 1 of the high speed rail project (Sydney to Canberra) from 1 January 2024.

The Commonwealth Government would be the only investor in the project and enter into contracts with the states, territories and private sector third parties. The project would be funded through off‐budget equity investments (totalling around $120 billion) by the Commonwealth Government over the next 30 years.  

The High Speed Rail Authority would be responsible for project delivery and eventual operation of the east coast high speed rail network.

The proposal would have effect from 1 July 2019.