A new report tabled today in the Victorian State Parliament has exposed the enormous cost blowouts of delay-plagued major projects under the Andrews Labor Government.
A report from the Victorian Auditor-General has stated;
As at 1 July 2021, Victoria has $144 billion invested in public sector capital works. This includes transport and water infrastructure, hospitals, schools and other community facilities.
Given the size and importance of this investment, Parliament and the community expect to know how projects are performing against their scope, time, cost and benefit expectations.
DTF and public sector entities’ reporting to Parliament and the public about major projects' performance is not timely, relevant or sufficient.
The Auditor examined 110 projects, concluding “Overall, the total value of all TEI increases within the 110 projects was $5.95 billion” and noting “the overall 219 quarters (54 yrs 3 qtrs) of added elapsed time recorded for all projects”.
Of the 110 projects examine by the Auditor, 26% were found to have changed scope, 63% changed TEI (budget) and 48% changed estimated completion date.
This report highlights the need to urgently to re-establish a Public Works Committee to oversight major public projects, as has occurred in New South Wales.
Comments attributable to the Shadow Treasurer, David Davis:
“Labor just can’t manage major projects, leaving taxpayers to pick up the tab and local communities waiting longer for key infrastructure.
“Instead of being up front with Victorians – Labor continues to hide the true extent of its infrastructure mismanagement and cost blowouts.
“Money is being squandered; money that could have supported families and businesses through the COVID crisis and the COVID recovery.”