‘Motorists Came Last’ in Sydney Toll Road Agreements, Minister Says

The operators of Sydney’s toll roads will pocket an estimated $123 billion from motorists over the next 37 years—about $195 billion in nominal terms. And it’s because drivers have always come last in the complex negotiations between governments and toll operators, according to the roads minister. And there’s little the current government can do about it. The independent NSW Tolling Review report, released March 11, shows many agreements, covering more than a dozen tollways, cannot be renegotiated or altered. One runs until 2060, forcing motorists to keep paying until then. The report—by former competition watchdog chief Professor Allan Fels and economist David Cousins— found the approach to setting tolls had been “influenced more by the perceived need to cover the concessionaire’s financing costs than by the need to manage traffic on the roads....