UPDATED: The Parliamentary Budget Office says the first two sections of the rail loop fall short in a benefit-cost ratio, but the Victorian premier says governments must build what the community needs. | Ash_McMillan ClayLucas
by the Victorian Parliamentary Budget Office that found the sprawling transport project’s first two stages may have a “net social cost”.on Saturday released its social cost-benefit ratio for the first two stages, which it estimated would cost $125 billion to build and $75 billion to operate until the year 2085. The report forecasts the five-decade period from 2035, when it is meant to open.
Andrews said including the running costs in the Suburban Rail Loop to 2085 would inflate the ultimate cost in a way that was not reasonable. “It’s incredibly challenging to plan out and cost out to 2085. Whatever a government doesn’t build is left to the next government, and it always costs more, and it’s always more difficult.”Penny Stephens
“With a $200 billion price tag and only 60¢ returned for every dollar invested, it’s now undeniable that this project simply does not stack up,” Davis said. “Whilst Daniel Andrews prioritises a new train line more than a decade away, almost 90,000 Victorians are awaiting vital surgery and too many emergency calls for help are either not answered or not responded to.”
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
New cost-benefit analysis questions the value of Victoria's Suburban Rail LoopVictoria's Parliamentary Budget Office says the cost of the state's Suburban Rail Loop would outweigh its benefit to the community.
Read more »
New analysis disputes Suburban Rail Loop valueThe cost-benefit ratio for the first two sections of the project is between 0.6 and 0.7, the report says. It means that for every dollar spent on the project the state would reap between 60 to 70 cents. | Ash_McMillan
Read more »
'Like it was fed to pitbulls': Passenger's shocking luggage discovery after flying with QantasAndrew Glykidis&x27; Qantas ticket cost $500, but what came down the luggage carousel would set him back four times that amount.
Read more »
'Like it was fed to pitbulls': Passenger's shocking luggage discovery after flying with QantasAndrew Glykidis&x27; Qantas ticket cost $500, but what came down the luggage carousel would set him back four times that amount.
Read more »
'They're starting to emerge': What you need to know about Australia's snake seasonAustralia's snake season generally hits between September and April as they start to venture out looking for food or a mate, but this can be brought forward if the end of winter and start of spring are unseasonably warm. 9News
Read more »