Prime Minister Malcolm Turnbull is expected to announce a radical new financing scheme for east coast infrastructure projects that will reportedly include high speed rail.  This comes ahead of elections which are expected to be called for July.

The government is planning for something called "value-capture financing" which leverages the enhanced land value in the establishment of a new transport network in the areas to add to the cost. 

"Obviously, there will always be a big role for the government to make grants, to make direct investments, but there's also the opportunity to capture some of the considerable value that is created in land by the construction of transport infrastructure," said PM Turnbull.

Labor transport spokesman Anthony Albanese says this scheme is nothing new and if the PM was serious he would back the private bill establishing the High-Speed Rail Authority.  Mr. Albanese plans to reintroduce legislation to create teh authority when parliament reconvenes next week.

"You actually need a structure that will work, to do the planning work, preserve the corridor," said Mr. Albanese, noting his belief that big projects require a direct investment from taxpayers along with value capture funding:  "Anyone who comes and tells you, you can do this for free is fantasizing," he added.