Albanese pitches 'nation-building' high-speed rail project ahead of election

Opposition Leader Anthony Albanese has kicked off 2022 with a pledge for fast rail between Sydney and Newcastle, should Labor win this year's federal election.

Mr Albanese said on Today that while there had been proposals for high-speed rail in Australia for decades, it was now "more needed than ever".

"What we're seeing is massive growth in Newcastle and the (NSW) Central Coast," he said.

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"We're the only island continent that's inhabited on the planet that has not building high-speed rail.

"We know it makes sense for the environment, it makes sense for the economy."

Labor has said it will $500 million to the project, which Communications Minister Paul Fletcher called an election stunt.

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But Mr Albanese said it was a nation-building project that would boost the economy and make a "massive difference" for jobs.

And he envisioned the network expanding further, ultimately between Brisbane and Melbourne.

"We're not pretending you can do it in a year or two," he said.

"This is a project whose time has come, and it's time to advance it."