Dan’s wasteland: Victorian project costs blowout by $6b

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Victoria’s Auditor-General Andrew Greaves has revealed that the cost of 42 major infrastructure projects across the state has risen by $5.95 billion. His audit report shows that the cost of another 27 projects has fallen by a combined $1.04 billion. Greaves assessed some $99 billion worth of major projects in the report, which was tabled in state parliament on 22 September:

The massive overrun bill, for infrastructure ranging from prisons and hospitals to roads and bridges, does not include the looming budget blackhole at the troubled West Gate Tunnel project…

In the audit report, tabled at state parliament on Wednesday, $99bn worth of major projects were assessed.

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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.