The time has come for high-speed rail in Australia - for the good of Australians and, as the business case now shows, for the good of the economy.
In our first term, we legislated the High Speed Rail Authority to develop that business case. Now that it is complete, we can continue turning that vision into reality. We're doing that by moving the Sydney to Newcastle stage into the development phase.
This is a big project worthy of a big nation. While the costs are necessarily high, the returns will be even greater.
With speeds of up to 320 km/h, high-speed rail will cut travel time from Newcastle to Sydney to one hour and from Gosford to Sydney to 30 minutes.
That's what it cuts. Now let's look at what it adds.
The business case shows that investing in this first leg of the high-speed rail network will generate around $250 billion in economic activity here in Australia. It finds the project will add 99,000 jobs and 160,000 new households to the Hunter region.
It will be a nationally significant act of regional economic development that builds the economic future of the Hunter. Indeed, it is nothing less than an emphatic vote of confidence in the Hunter region.
Consistent with our government's approach to nation-building, it is a project we are undertaking carefully and methodically.
As a former infrastructure minister, I can tell you that the only thing that moves fast in this process is the train. But we are moving. Eventually so will those trains, stopping only at stations at Newcastle, Lake Macquarie, Central Coast and Sydney Central - with future stations at Parramatta and Western Sydney International.
There is no getting around the sheer scale of the project - nor the complexity of the engineering and construction challenges before us. That includes the construction of tunnels for approximately 50-60% of the route, and bridges and viaducts for up to 15%.
Yet, as the business case shows for stages 1A and 1B - Newcastle to Sydney Central - the economic benefits exceed costs, even on conservative assumptions. When assessed together, stages 1A and 1B are net positive. The benefit-cost ratio strengthens further as additional stages are delivered and the network expands.
This is a prime example of nation-building infrastructure that facilitates growth, boosts productivity, creates jobs and connects communities.
It will give businesses opportunities for closer collaboration and integration. It will also provide an incentive for people looking to make their homes outside the big cities, giving them the chance of a better quality of life and strengthening local communities in the process.
It will bring economic benefits to Hunter industries such as tourism and hospitality. And, of course, with travel times slashed, it will be a game changer for workers commuting to Sydney.
As I said when I outlined my vision in Newcastle in 2022, it's so much more than just a transport policy. It's an economic development policy. It's a housing policy. It's a growth strategy with huge productivity benefits.
Consider the advantages high-speed rail has over air travel and you can see why it has become so crucial in so many parts of the world.
London to Paris is a clear case study. Since the Eurostar opened in 1994, it has captured an overwhelming majority of the market, with nearly four times as many people opting for the train over flying.
It's also a much more environmentally sustainable way to travel, with carbon dioxide emissions per rail passenger a tiny fraction of what they are by air or by car.
We want to keep Australia moving - and to keep Australia moving faster and more efficiently.
This opinion piece was first published in Capital Brief on Wednesday, 4 March 2026.
