You all want the rail loop…now you get to pay for it.
The costs are ballooning. I reckon it will balloon past $8billion by the time it is operational.
The price tag on Auckland’s inner city rail link has ballooned to as much as $3.4 billion, up from earlier estimates of about $2.5b.
The Government and Auckland Council on Wednesday signed a Heads of Agreement, under which the Crown will fund 50 per cent of the City Rail Link (CRL).
The total cost of the project is estimated to be between $2.8b and $3.4b, Associate Finance Minister Steven Joyce and Transport Minister Simon Bridges said.
Earlier estimates had put the cost at about $2.5b, although backers had said they expected that figure to rise.
Joyce said Wednesday’s agreement set out in-principle commitments from the Government and Auckland Council, and contained broader funding, governance and risk management arrangements.
Auckland Transport’s 2015 business case for the CRL estimated the cost of the project to be between $2b and $3b. On Wednesday the ministers said that after completion of more detailed design work, officials put the current estimated cost at between $2.8b and $3.4b.
This was an estimate and would be subject to further changes.
The ministers said that as was common with large infrastructure projects, early estimates of the costs were a “best-informed estimate”.
In other words, they’ve pulled the numbers out of their arse. They have no idea what the ratepayers of Auckland are being committed to.
Len Bown’s legacy is a massive increased tax against the ratepayer for the very few people who will use the stupid train.
Now they’ve raped your pockets for that what chance of them trying to rape them for rail to the airport.