UPDATE: Prime Minister Anthony Albanese has just announced additional federal funding for the contentious Suburban Rail Loop, which faces a significant funding shortfall. This comes as the opening date for Melbourne’s new $15 billion rail line has been moved up to November 30, following safety approvals.
During a celebratory ride through Melbourne’s Metro Tunnel on Sunday, Albanese and Victorian Premier Jacinta Allan touted the progress of the project. The Suburban Rail Loop, designed to span 90 km from Cheltenham to Werribee via Tullamarine Airport, is crucial for regional connectivity. However, the Victorian government has invested $11.8 billion into the $34.5 billion eastern section alone, leaving a glaring funding gap as the commonwealth has only allocated $2.2 billion to date.
Albanese confirmed that the federal budget would include further funding for Victoria, stating, “There will be additional funding because Victoria needs that certainty going forward.” He withheld specifics on the amount or any agreed-upon funding split, urging Victorians to “wait and see” when the federal budget is presented in May.
The urgent need for funding is underscored by ongoing criticisms from opposition figures. Shadow Attorney-General James Newbury slammed the government’s budget management, declaring, “A premier and a prime minister saying one day they might have some money to pay for something, I mean frankly that’s worth nothing.”
The Suburban Rail Loop has been a polarizing topic since its announcement, with its initial cost projected at $50 billion in 2018. Infrastructure Australia has since expressed doubts about the feasibility of the current estimate, which has been revised to $34.5 billion for the eastern route alone, and has called for an “exit strategy” if the project cannot be delivered.
As the situation develops, all eyes will be on the federal budget next May to see if the promised funding materializes, leaving Victorians anxiously waiting for clarity on the future of this vital infrastructure project.
