Victorian taxpayers are set to foot the bill for yet another Labor major project cost blowout following reports the Metro Tunnel has exhausted its contingency funding.
Under Labor, the cost of the Metro Tunnel project has already increased from a promised $9 billion to $13.03 billion in the most recent State Budget – a blowout of more than $4 billion.
Reports today reveal the project is now facing the prospect of running out of contingency funding, following recent cost pressures relating to station builds and testing of trains and communications systems.
After a decade of financial mismanagement under Labor, major projects have blown out by more than $40 billion – driving Victoria’s net debt to record highs and forcing the delay and cancellation of desperately needed transport projects across Melbourne’s growth suburbs and regional Victoria.
Shadow Minister for Transport Infrastructure, David Southwick, said: “Labor cannot manage money, cannot manage major projects and Victorians are paying the price.
“Reports of major projects running out of money are just more of the same from a decade-old government that has lost control of Victoria’s transport infrastructure pipeline.
“The Allan Labor Government must be upfront with Victorians over the size of this latest Big Build blowout and explain what other projects will be cut and delayed to pay for it.”
