Stage one of the project is a boon for developers and residents of a few wealthy suburbs, yet Labor insists it will benefit all Victorians
You may have logically thought that this massive expenditure will only add to Victoria’s current debt, which the budget papers say is set to reach $167bn, and which is already more than that of New South Wales, Queensland and Tasmania combined. Yet, according to the government, you’d be wrong.
People will benefit too, of course – those who live close to the proposed stations. Starting in the well-heeled seaside electorate of Sandringham, stage one of the line will wind its way through areas of significant comparative wealth. For example, the median house price at the start of the line is $1.5m, and $1.6m at its end, in Box Hill. These figures are significantly above Melbourne’s median of $1.08m, and dwarf regional Victoria’s, which sits at $625,000.
I respect much of what Ronald Reagan did during his presidency. And, as a boy, I lived in England at the conclusion of Margaret Thatcher’s premiership.
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