VECCI comment on introduction of legislation to Victorian Parliament to lease the Port of Melbourne

VECCI Chief Executive Mark Stone said VECCI welcomes the introduction of legislation to the Victorian Parliament this week to enable the lease of the Port of Melbourne.

"The lease will allow significant funds to be raised to support critical infrastructure initiatives including the removal of level crossings, the building of Melbourne Metro and the West Gate Distributor," Mr Stone said.

"The lease will make Victoria eligible to access the Commonwealth Government’s Asset Recycling Initiative and receive a 15 per cent payment for investment in new infrastructure projects.

"It is encouraging that the lease holder has a clear mandate from government to ensure they maintain and improve the port’s operations, raising efficiency and boosting competitiveness.

"Importantly, port user interests will be protected by the oversight of Victoria’s independent economic regulator, the Essential Services Commission (ESC). The ESC will cap annual tariff increases at CPI to ensure port pricing remains competitive.

"The lease of the port has been a long-term priority for VECCI and we welcome this positive step which will reinforce Victoria’s position as Australia’s premier freight and logistics capital.

The Victorian Employers' Chamber of Commerce and Industry (VECCI) is the most influential business organisation in Victoria, informing and servicing more than 15,000 members, customers and clients around the state.

vecci.org.au

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