NSW taxpayers hit with $576m light rail compensation bill

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By Leith van Onselen

Back in April, we reported that Sydney’s light rail farce had intensified, with the Spanish subcontractor building the eastern suburbs light rail project – Acciona – demanding an extra $1.2 billion from the NSW Government. This follows the project running a year behind schedule and way over budget, as well as being thoroughly rubbished in a damning NSW Auditor-General assessment.

Today, The ABC reports that the NSW State Government has settled a year-long legal dispute with Acciona, agreeing to a $576 million compensation payout:

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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.