Victoria’s Suburban Rail Loop is a financial trainwreck

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In October 2024, it was revealed that Victorian taxpayers paid more than $32.9 million to 102 executives working on the Suburban Rail Loop Authority (SRLA), averaging $322,000 a head.

“It seems pretty clear from the annual report that we don’t have a railway line as much as we have a gravy train”, former Liberal Opposition Leader John Pesutto said.

Considering this background, it was interesting to see SRLA board member James MacKenzie write a spirited strawman defence of the controversial $200 billion SRL project in The AFR. His key arguments are presented below followed by my rebuttal.

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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.