A recent report by eminent economists Kevin Fox and Dr Nigel Stapledon from the Centre for Applied Economic Research at the UNSW Business School has exposed the myth that ‘value capture’ will fund all future infrastructure in Australia.

A bit like the famous Australian story The Magic Pudding, there is this hope that the “Value Capture Pudding” will solve all our problems. The report by Fox and Stapledon is fittingly titled Value Capture is Not a Magic Pudding – Options for Funding Infrastructure. The authors have skin in…