Victoria facing $16 billion cost blowout on rail loop project

Victoria’s government is blaming ‘dodgy questions’ for a damning new report on its signature rail project. It is facing another cost blowout, worth $16 billion. The Independent Parliamentary Budget Office was asked by the Opposition leader to update its estimate on the cost of delivering the first two stages of the rail line. Two years ago, the figure, including operating costs, was $200.3 billion; it has now increased to $216.7 billion. “Don’t sign us up to a mortgage we can’t afford,” Victorian Opposition leader John Pesutto said. “They’re trying to buy a house that is well out of our league to buy.”