The Andrews Labor Government is prepared to amend the Delivering Victorian Infrastructure (Port of Melbourne Lease Transaction) Bill 2015 to restrict compensation to 15 years from lease commencement.
This will be subject to competitive neutrality pricing applying to a state sponsored second port.
This ensures a level playing field to allow ports to compete head to head without the distortion of state subsidies and will provide investors with confidence on likely outcomes.
This resolves the last remaining point of contention between the Government and the Opposition on the legislation.
Reviewed 19 August 2020