Let me commend readers of this website to a fearless and forceful submission from Stephen Morris on 8 August to the Queensland Parliament and Public Works Committee’s “Inquiry into the Operation of Toll Roads in Queensland” which touches upon the damage private rent-seeking tollways wreak upon motorists over an excessive number of years.
Giving public guarantees to a private company over many years is unlikely to be a great public investment. And only tollway users pay, when everybody’s land values rise as we improve our public infrastructure?
What’s wrong with government financing infrastructure, as it used to do, and recapturing some of the uplift in land values via land value taxation across municipalities or the state? Oh, we’ve got to get these costs off the public balance sheet, even if it is at a killer cost to Joe Sixpack?
The way it’s now done is a great public rip-off of all tollroad users.
Seems it’s not only the little investor/speculator works on the below maxim? Big rent seekers like Transurban do, too!
The profit of the earth is for all.
– Ecclesiastes 5:9