LaHood: ‘Not enough money’ without private sources

The US Secretary of Transportation says private capital will need to partner with government ‘to do all the things we want to do’, including building a national high-speed rail network.

There is going to be ample room for private investment in the US transportation infrastructure, with high-speed rail leading the way, according to US Transportation Secretary Ray LaHood.

“Our general philosophy here is there is not enough money in Washington to do all the things we want to do,” LaHood said. As a result, the government is going to look to the private sector to help it deliver infrastructure projects in the future.

LaHood made the comments in an interview published in this months’ issue of Infrastructure Investor magazine (subscribers click here to read the full article).

LaHood pointed to the US’ ambitions to create a nationwide network of high-speed rail corridors as a case-in-point for private investment. “We don’t expect the taxpayers to pay for all of this,” LaHood said.

“It’s a combination of public and private expertise from other parts of the world coming to America,” he added.

The Secretary of Transportation also discussed public-private partnerships, transportation reauthorisation and the creation of a national infrastructure bank.