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Poles and wires lease to kick-start economic growth across NSW

Release Date: 4/06/2015
The Illawarra Business Chamber (IBC) says the historic passing of legislation in the NSW Parliament to allow the partial lease of the publicly-owned electricity network will kick-start economic growth and attract investment to the Illawarra region. 
“At the March election, voters gave the Baird Government a clear mandate to proceed with its proposal to lease 49 per cent of the State’s electricity network to fund an ambitious program of infrastructure spending across NSW,” said IBC Chief Executive, Debra Murphy.
“The Chamber took an active role in the lead up to the election in publicly supporting this policy as part of our Unfinished Business campaign.
“The Government should be commended for persevering with this important reform that has been the culmination of over a decade’s work to make the electricity system more efficient. The passing of legislation to allow the partial lease of the electricity network provides a once-in-a-generation boost for infrastructure investment across our state, with the construction of new roads, railways, hospitals and schools set to boost economic growth in the Illawarra region. 
“The Illawarra business community is extremely pleased to see the Upper House respect the Government’s mandate and move swiftly on this proposal. It not only provides much-needed certainty for business, but helps attract the investment needed to ensure NSW stays on the front foot.
“The IBC, along with other regional stakeholders, made a submission to the NSW Government with a priority list of regional infrastructure projects that should be funded as part of the State Infrastructure Strategy.  The Albion Park Rail Bypass, which will be funded by the lease, was one of these priority projects.
“Now that the legislation has passed the NSW Parliament, we look forward to seeing the Government get on with the job and begin working with key stakeholders in the Illawarra to ensure that funds are directed towards projects that will have a real impact on our community, Ms Murphy said.
Media Contact:         Julia Frith 0417 135 858

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