I'm a real estate valuer who worked in the Australian Taxation Office (ATO) and Commonwealth Bank of Australia (CBA) before co-founding a private valuation practice, Westlink Consulting. I discovered that we leave too much publicly-generated land rent to be privately capitalised by banks and individuals into land price bubbles. This generates repetitive recessions and depressions. These need to be avoided by capturing more revenue from land values to free up wages and household debt.
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!