High-Speed Rail Plans to Be Put on Track

The high-speed Deutsche Bahn ICE3 InterCity Express at St Pancas International station, October 19, 2010. The 200-mph trains are due to run cross-channel links from London's St Pancras station to European destinations including Frankfurt and Amsterdam in 2013. European Union rules now permit competitors on the Channel Tunnel route previously dominated by Eurostar.Dan Kitwood/Getty Images

Fast trains connecting Sydney to Newcastle and Melbourne to Brisbane could be more than a pipe dream under a plan announced by the federal government.

A proposal to establish a high-speed rail authority tasked with starting the major, long-term infrastructure project was presented to parliament on Thursday.