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479 - Regional Transport and Roads - DEFINING BUDGET BLOW OUT

Farraway, Sam to the Minister for Jobs and Tourism, Special Minister of State, Minister for Roads, Minister for the Arts, and Minister for Music and the Night-time Economy representing the Minister for Regional Transport and Roads
DEFINING BUDGET BLOW OUT

(1) As Minister for Regional Transport and Roads, how do you define a budget blow out?
Answer -

I am advised

Budget blow outs can be defined as the difference between the initial cost estimate and the final cost. For example, The Spanish-built Regional Rail Fleet is publicly reported to be more than three years late and more than $1 billion over budget, under the previous government. The Korean-built Mayrung Fleet was due to enter service in late 2019. It was reported under the previous government that cost overruns could exceed $1 billion prior to entering revenue service.

There are many other examples of significant budget blow outs that meet this definition across the Transport portfolio over the last 12 years of the Liberals and Nationals being in Government.

Question asked on 15 June 2023 (session 58-1) and published in Questions & Answers Paper No. 27
Answer received on 6 July 2023 and published in Questions & Answers Paper No. 42

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