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Suburban Rail Loop faces major cost blowout

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However, some elements of the east and north loop including precinct and complementary projects could not be costed because there was “insufficient publicly available information”.

Running the first two stages of the loop for the first 50 years will add $75 billion to the cost, bringing the total budget to $200 billion.

“This consists of asset expenses of $125,044.5 million and operating expenses of $75,242.9 million,” the report stated.

Premier Daniel Andrews announcing $2.2 billion to kickstart stage one of the Suburban Rail Loop in November 2020.Credit:Joe Armao

The first stage of the project, which is already underway and due to be completed in 2035, is expected to cost $33 billion, according to the watchdog.

Matthew Guy asked for the loop to be costed by the state parliament’s budget watchdog.

Matthew Guy asked for the loop to be costed by the state parliament’s budget watchdog.Credit:Scott McNaughton

Shadow Treasurer, David Davis, said the Victorian Liberals and Nationals’ first and paramount priority was to fix the healthcare crisis.

“This is an alarming revelation but completely unsurprising given Labor’s record of cost blowouts that raises serious questions about the viability of this project,” he said.

“Instead of tying up hundreds of billions for decade to come, we will shelve this project and put every cent into fixing the health crisis.

“When Victorians in need can’t get an ambulance, an answer to a triple-zero call or access critical treatments, it’s clear this is the wrong project at the wrong time.”

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