Yahoo Finance Plan to cap road tolls at $60 a week
Labor has promised to cap tolls at $60 a week if it wins the March state election.
NSW Labor will cap road tolls at $60 a week if it wins the March state election, which could save Aussie commuters thousands of dollars.
More than 50,000 drivers would be better off under the plan, saving around $147 million over its initial two-year lifespan, the party said.
NSW Opposition Leader Chris Minns said deals made by the current government were driving record tolls, which were unfairly hurting those living in Sydney's outer suburbs.
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"This mess is Dominic Perrottet's own making - they have signed secret contracts and privatised toll roads. Toll companies can't lose, Sydney drivers can't win," Minns said.
"We want to make sure that there's fairness right across metropolitan Sydney and you shouldn't be disadvantaged because the government hasn't provided public transport, but they have provided brand new toll roads."
How would the road-toll cap work?
A cap of $60 a week would commence on January 1, 2024 if Labor wins next month's election, with any tolls charged above the cap refunded on a quarterly basis.
The change would be on top of the government's existing 40 per cent rebate of up to $750 for eligible drivers, and M5 cashback scheme.
The Australian Competition and Consumer Commission (ACCC) would be appointed to lead a review of the state's toll system, Labor said.
Professor Allan Fels, the former chair of the ACCC, would lead the review into long-term reform options for overhauling the tolling system in NSW, such as reviewing contracts with private road operators, including Sydney's biggest, Transurban.
He said there were a number of issues to address with Sydney's toll network, including competition, over which the ACCC recently flagged concern.
"There's one main operator of Sydney toll roads and that fact gives it a huge competitive advantage over any potential competitors," Fels said.
"It's got a huge amount of information about traffic patterns, driver behaviour and so on that means when new contracts or extensions come up, it's far better placed than them to be able to make winning bids."
- With AAP
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