Albo to throw more cash at Dan’s $125b rail loop boondoggle

Tuesday 20 September 2022

During this year’s federal election campaign, Anthony Albanese promised to inject $2.2 billion into the Victorian Labor Government’s Suburban Rail Loop (SRL).

Last month, the Victorian Parliamentary Budget Office (PBO) projected the cost of building the SRL had doubled to $125 billion, with another $75 billion projected for operating expenses:

Initial projections when the project was announced by the state government in 2018 said it would cost $50 billion to build the loop running from Cheltenham to Werribee.

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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.