The Allan Labor Government has hidden an up to $6.9 billion cost blowout on the Suburban Rail Loop East (SRL East), today's 2024-25 Victorian State Budget has revealed.
In November 2023, the Victorian Auditor-General's Major Projects Performance Reporting 2023 confirmed an expected cost blowout of up to 20 per cent on the SRL East main works package of up to $6.9 billion.
Despite this finding and Labor having now signed contracts to deliver the main works package, today's budget has hidden the total expected cost of the SRL East by stating the total cost of the project and required funding is to be confirmed (TBC).
The Budget Papers also confirm the SRL East early works have suffered a 9-month delay, whilst the promised Western Rail Plan now has no delivery timeline and Geelong Fast Rail project has been formally discontinued.
Shadow Minister for Transport Infrastructure, David Southwick, said: "Labor cannot manage money, cannot manage projects and Victorians are paying the price.
"Instead of being transparent with Victorians over their latest multi-billion-dollar cost blowout, Labor has buried the true cost of the SRL and cut or delayed other desperately needed rail projects to pay for it.
"Premier Jacinta Allan continues to put all our eggs in one basket, and communities across western Melbourne, growth corridors and regional Victoria continue to pay the price."
