Labor treating rail loop like giant Monopoly game

When it comes to building the suburban rail loop it seems money is make-believe and, much like Monopoly, this is really about property.

In 2018, Dan Andrews promised Victorians a big new suburban rail loop.

The underground tunnel would link radial “spokes” of the old rail network while connecting major jobs hubs such as universities.

Since that time – it was shortly before the state election, as luck would have it! – his government has frantically assessed the project’s merits.

Oh, and a little thing called cost.

On Thursday afternoon all was revealed in a lengthy investment case that showed the

first 26km section would cost $34.5 billion.

Victorians have never dreamt of a transport project costing even half that amount.

The Andrews government has been frantically assessing the project’s merits.

Before this momentous day, the North East Link toll road between the Eastern Freeway and the M80 was clubhouse leader at $15.8bn — and when that was announced people broke out in a nervous sweat.

Now it seems like money is make-believe; that we’re playing a giant game of Monopoly with Treasurer Tim Pallas as Rich Uncle Pennybags doling out $200 as we pass Go.

Suburban Rail Loop Minister Jacinta Allan (they’re so serious about this project there’s a minister for it) said you’ve got to look past the dollars.
Allan and Andrews like to ask Victorians to imagine the cost of NOT building the new link.

What happens if you jam millions of extra people into Melbourne over coming decades and force them in and out of the CBD for work?

This is a valid question.

In fact, one hopes this was the starting point for the brains trust who came up with the plan.

The fact its route crosses state seats Labor wanted to win at the last election was a bonus.

(Side note – Labor won off the Liberals the seats of Box Hill, Burwood, and Mount Waverley).

We’re playing a giant game of Monopoly with Treasurer Tim Pallas as Rich Uncle Pennybags.

The investment case released on Thursday has detailed modelling about travel and employment opportunities through this project, with an extra 45,000 people housed around station precincts.

Much like Monopoly, property portfolios are crucial.

Yes, the pandemic has paused population.

But as the government infrastructure advisory body set up by Andrews to “take the politics out of infrastructure” said this week, it will accelerate again soon.

While $2.5bn has been sunk on planning and early works already, the state opposition could promise NOT to build it after next year's election.

Allan and Andrews like to ask Victorians to imagine the cost of NOT building the new link.

Labor won’t be signing contracts just before the poll, like the Liberals did on the East West Link in 2014.
Labor famously justified throwing away taxpayer money when killing the EWL by saying the return on investment for the first stage of the project was terrible.
That’s more difficult with this rail loop, because the government only chose to model stages one and two of the project together to come up with a positive benefit-cost ratio.
Much like the two stages of the EWL, the whole plan is what makes the first stage sing.

Of course, if the Liberals choose to dump the SRL it will need to tell people in seats it wants to win why it won’t build them a shiny new train set or job opportunities on their doorstep.
An alternative plan to deal with population growth and jobs will have to be clearly spelt out, and it would have tens of billions of dollars in Monopoly money to play with.

This project will be a critical state election issue, and one which will define Melbourne’s future.

Who said that the politics of infrastructure was dead?