A new fast rail for eastern Australia is in the midst. 

Those behind a fast rail plan to connect Melbourne, Canberra and Sydney admit the idea is ambitious, but say it will happen.

Consolidated Land and Rail Australia wants to build the rail line and create 8 inland cities.

Land value increases are expected to pay for the $200 billion dollar project.

The company says taxpayer funding will not be needed, but wants government support for land and planning approvals.

Steve Bracks, former Premier of Victoria spoke with Nick McCallum about the project.

Mr Bracks is on the board for this project.

Click PLAY below to hear the FULL chat