Fast rail linking Sydney and the Hunter will be prioritised under a Labor government, Opposition Leader Anthony Albanese says.
A first step towards high-speed rail linking major cities, the route would deliver speeds of more than 250 km/h, cutting the journey time from Sydney to Newcastle to 45 minutes, down from two-and-a-half hours.
The most recent report into high-speed rail found the Sydney to Newcastle route should be the first component of an eventual line to Brisbane.
Mr Albanese has announced his government would make the works a key priority for a new High-Speed Rail Authority, and also provide $500 million funding in its first budget to begin corridor acquisition, planning and early works.
At a speech in Newcastle on Sunday, Mr Albanese outlined a vision for high-speed rail between Brisbane and Melbourne.
"Australia is the only inhabited continent on earth not developing high-speed rail," he said.
"Fast and high-speed rail will be an important element of Labor's smart regionalisation plan that recognises that decentralisation is critical for Australia."
The coalition has branded the plan "too expensive".
Infrastructure Minister Paul Fletcher says Labor needed to explain where the money would come from.
"It is 200 to 300 billion dollars on any credible estimate. That has to be paid for and that means higher taxes," he told reporters on Sunday.
"Mr Albanese also needs to explain why when he had six years as transport minister he didn't deliver this project."
The move to buy up land in the rail corridor has been welcomed by Sydney's urban policy thinktank and advocacy body.
Joel Fitzgibbon is stepping down at the next election. Source: AAP
Committee for Sydney CEO Gabriel Metcalf said the rail improvements would give people more choice about where they work and where they live.
"Better connections across this region ... means we would effectively work like a bigger global city, with more economic gravitational pull," he said.
"As we look to emerge from two years of disruption and lockdown, this is a project that will get people inspired about Sydney's future and kickstart our economic recovery."
The opposition leader has also announced his government would reverse $500,000 of funding cuts to the GP Access After Hours service in the Hunter region.
"The prime minister has refused to rule out supporting a recommendation for a further funding cut, which if approved would end this vital service," Mr Albanese said.
"This is a devastating blow to the Hunter community, especially in the middle of a global pandemic. Almost every Hunter family has used this vital service."
But Labor will likely be looking at their future further north, with key seats in the Hunter shaping up to be a major election battleground.
Labor is defending its narrowly held Hunter seat with incumbent Joel Fitzgibbon stepping down at the next election.
The party is also fending of a coalition campaign in the neighbouring Hawkesbury-based seat Macquarie, the Maitland-based seat Paterson and in the Central Coast seat Dobell.
But it's hitting back at the Liberal-held, Gosford-based seat Robertson.
