Victorian Government played for a fool by Transurban

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A group of academics have exposed how the Victorian Government was played for a fool by Transurban’s market-led proposal to build the West Gate Tunnel:

Victoria’s government finds itself in a big hole with its West Gate Tunnel project. As diggers lie idle in a dispute over what to do with contaminated soil, it’s facing long delays and billions in extra costs. But the government appears locked into a contentious project that was put to it as a market-led proposal, an arrangement that bedevils transport projects across Australia…

The public has a clear stake in these projects, but unsolicited market-led proposals are subverting planning processes that are meant to protect the public interest.

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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.