12-04-2021, 06:56 AM
(12-02-2021, 04:26 PM)capcom link Wrote:Only cost Victorians a billion dollars in breaking the contract !!
The project that back in 2013 was expected to cost $15 billion to complete and had the Federal Government offering $5 billion towards the cost .
It was the project that received a scathing report from the Victorian Auditor-General because the business model offered such a poor return for each dollar spent.
In caretaker mode, facing a wipeout at that election, the then LNP Government signed a secret deal with the contractor ensuring a payment of $1 billion to the contractor if the project were to be cancelled.
It was an act of straight out blackmail to force the expected incoming ALP government to proceed with a project that had a failed business case.