Victorians sucked into infrastructure black hole
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In late 2023, newly appointed Victorian Premier Jacinta Allan ignored expert advice and signed the tunnelling contract to build the first stage of the $200 billion Suburban Rail Loop (SRL).
“We are full steam ahead with the Suburban Rail Loop – by 2026, tunnel boring machines will be in the ground and Victorians will be hard at work delivering a project that will slash travel times and transform our transport system”, Premier Allan proclaimed.
The Victorian government subsequently signed several more contracts to build the SRL.
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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.