Price Mystery as Metro Tunnels Into More Taxpayer Cash

Published on September 27, 2024

The final price tag of Melbourne’s Metro Tunnel remains something of a mystery, even as taxpayers cough up an extra $837 million (US$576 million) to pay for the project.  Transport Infrastructure Minister Danny Pearson announced the latest blow out in a snap press conference on Sep. 26, taking the current cost to $13.48 billion (US$9.28 billion).  The project was originally costed at $10.9 billion (US$7.5 billion) when it was first announced in the 2016 budget. There have been other cost increases since. Pearson said there was no way to confirm if the latest blowout would be the tunnel’s final price hike.  “What I would say on that is that I cannot guarantee there won’t be a one in 100-year event next year,” he said in reference to pandemic-era debt increasing project costs. ...

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