Federal govt refuses to announce when $2.2bn in critical SRL funding will be released

The federal government has refused to commit to a date for releasing critical funding for Victoria’s troubled Suburban Rail Loop.

Federal Infrastructure Minister Catherine King has refused to say whether the state government will gain access to $2.2bn in funding from Canberra for the contentious Suburban Rail Loop before the federal election.

Joining Premier Jacinta Allan at a press conference in Werribee on Thursday, Ms King said she was yet to sign off on releasing the cash to Victoria.

The state government is banking on the federal government to match their investment and chip in one third of the $34bn price tag for the first stage of the rail loop between Cheltenham and Box Hill. Picture: Mark Stewart

The state government is banking on the federal government to match their investment and chip in one third of the $34bn price tag for the first stage of the rail loop between Cheltenham and Box Hill.

The remaining third of the project’s costs will be funded by value capture.

But Anthony Albanese has so far only committed $2.2bn towards the costly project, which has been the subject of mounting pressure from within Ms Allan’s cabinet and from credit rating agencies about proceeding without further federal government funding.

The Allan government submitted a departmental document – known as a project proposal report – to Infrastructure Australia late last year.

In November last year, Victorian Liberal frontbencher Dan Tehan vowed to introduce a petition in parliament that urged the Albanese government to ditch its support for the project and spend the money on rural roads. Picture: Mark Stewart

From that, Infrastructure Australia will then send Ms King’s office a brief, before she is able to sign off on the bureaucratic exercise to formally release the funds.

But asked whether that will be done before Australians head to the polls sometime in the first half of this year, Ms King said: “When I’ve got more to say about that, I’ll let you know.”

“My department is working with Infrastructure Australia on that at the moment and a brief will come to me,” she said.

“That hasn’t occurred yet and I hope that happens shortly.

“It’s under assessment at the moment.”

In November last year, Victorian Liberal frontbencher Dan Tehan vowed to introduce a petition in parliament that urged the Albanese government to ditch its support for the project and spend the money on rural roads.