Labor promises $1bn towards high-speed rail vision if it wins election

The investment would stop land along a 1750-kilometre corridor identified for a proposed bullet rail line from being swallowed by suburban sprawl, potentially adding billions in acquisition costs to a project expected to cost up to $114 billion.

Australian governments have pursued visions of a high-speed east coast rail link since the 1980s.

But the Opposition's $1 billion pledge would be the biggest financial investment ever made towards the concept.

Anthony Albanese, Labor's infrastructure spokesman, said the pledge "would end nearly six years of Coalition inaction and finally deliver progress on a project that will revolutionise interstate travel and regional development".

Acquiring land along the corridor will require the help of state and territory governments, and Mr Albanese said a Bill Shorten government would set up a high-speed rail authority to manage this project.

Hunter Business Chamber chief executive Bob Hawes said it was vital the corridor be secured to "ensure urban areas do not infringe on the likely route".

"This is already emerging as an issue in our region where urban development in western Newcastle and Lake Macquarie near the M1 is gathering momentum," he said.

"There is a large body of evidence to suggest that substantial benefits will flow to the Hunter from improved rail connections, to Sydney in particular.

"These include an influx of residential and business investment, enhanced employment options, less road congestion and better synergies with economic centres in Sydney and along the eastern seaboard."

The high speed rail authority would also work with the private sector to make the vision a reality.

Labor's vision for high-speed rail adopts the findings of a $20 million feasibility study commissioned by the former Gillard government in an agreement it made with the Greens in 2010.

The 2013 study identified stops at more than a dozen regional cities between Melbourne and Brisbane.

The proposed system offered both express and limited stop services.

Typical express journey times would be 39 minutes between Newcastle and Sydney, two hours and 37 minutes between Brisbane and Sydney, and two hours and 44 minutes between Sydney and Melbourne.

Mr Albanese said the project "will be an economic game-changer for communities along its path".

"It would bring these communities closer to capital cities, allowing for increased commuting while also strengthening the case for regional business investment," Mr Albanese said.

The study proposed building the rail in stages, starting with a link between Sydney and Canberra, then southwards to Melbourne, before heading north to Newcastle, then the Gold Coast and Brisbane.

Mr Albanese said it was important to start to buy the land now to protect it from developers.

The Morrison government has also investigated building high-speed rail links between capital cities and the regions.

It has spent $20 million on studies for three potential links: between Melbourne and Shepparton; Sydney and Newcastle; and Brisbane and the Sunshine Coast.

The business cases for the three proposals are due for completion by mid-year.