Mathias Cormann (WA, Liberal Party, Minister for Finance) Share this | Hansard source

I thank Senator Sinodinos, a senator from the great state of New South Wales. Our Asset Recycling Initiative taps into the private sector's willingness to invest in well-established and mature assets in order to fund new productivity enhancing, job-creating infrastructure. This is, of course, a key part of our strategy, working closely with the Baird coalition government in New South Wales, to build a stronger, more prosperous economy. Those established and mature assets will continue to perform and perform better in private hands, helping to drive increased economic growth and ease congestion as a result of significant additional investment in high-quality, new economic infrastructure.

Our Asset Recycling Initiative will support up to $38 billion in new infrastructure spending across Australia, and we know that the first cabs off the rank, taking advantage of our Asset Recycling Initiative, were none other than Senator Lundy's Labor colleagues here in the ACT. Senator Lundy is absent today. Earlier this month the federal government also announced that $2 billion in incentive payments for crucial infrastructure projects will be provided to the state government of New South Wales. The coalition government here in Canberra is working together with the coalition government of New South Wales for the benefit of the people of New South Wales. Those incentive payments made under the Asset Recycling Initiative will be used to support the New South Wales government's infrastructure plans to create jobs, reduce congestion and boost growth. It is very popular with a range of Labor luminaries, including none other than former Labor Prime Minister Paul Keating, who said about the 49 per cent lease:

I support the Premier's view about this.

There are still some obscurantists in the Labor party …

Of course the obscurantists are over there, and they are in New South Wales. I have a few other quotes I would like to share and hopefully I will get the opportunity. (Time expired)