A report on high speed rail launched at Parliament House on Monday shows that the proposed east coast link between Melbourne and Brisbane could be built for half the original price tag.

The report, produced by Aurecon, indicates costs at $35 million per kilometre, a total of $63 billion aroundhalf the $114 price cost indicated two years ago.

The Potential Impacts of High Speed rail to Eastern Australia report compared construction costs around the world for HSR projects. Chief executive of ARA, Bryan Nye said it shows that it is time to stop debating and put the project out to the international market, such as Europe, Japan and China.

The study highlights the many benefits high speed rail has provided for regional areas in other countries, including potential for light-weight freight.

On current trends by 2061, 83 per cent of Victorians will live in Melbourne, 74 per cent of the New South Wales’ residents will live in Sydney, and 52 per cent of Queensland’s population will reside in Brisbane.

  • Download the report here.