Media attacks wrong rail white elephant

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Last week, the mainstream media ruthlessly attacked the former federal Coalition Government’s Inland Rail Project, after an independent review found that its cost has blown out to $31.4 billion, compared with an estimated $16.4 billion in 2020.

The 1,700km rail line is now slated to be completed in 2031, which is four years behind schedule.

The review was undertaken by former Energy Security Board chair Kerry Schott, who concluded that factors such as “immature preliminary designs and approval requirements“, skills shortages and regulatory concerns have contributed to the delays.

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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.