North-Eastern Metropolitan Region
Richard WELCH (North-Eastern Metropolitan) (13:02): (1057) My question is to the Minister for the Suburban Rail Loop. All signs are showing that this project is likely to be shelved. The federal government have not provided their funding, S&P have issued severe warnings about our credit rating and the Deputy Premier is actively distancing himself from the project, and we have seen a precedent where the Commonwealth Games cancellation cost us over half a billion dollars. Local residents in my community are now worried that if the project goes ahead they will be taxed an exorbitant value capture tax, and now they are equally afraid that if it is cancelled they will have to suffer the costs of cancellation. So my question to the minister is: how much will the cost to my constituents and Victorian taxpayers be to cancel the SRL?
The PRESIDENT: My concern is that you cannot ask a hypothetical question. I will let Mr Welch, if he wants to, rephrase.
Richard WELCH: I can rephrase slightly. There are a number of organisations who are currently making contractual arrangements to relocate and adjust their businesses as a result of the planning. Will they be compensated, and what costs will they recover should the SRL not proceed?
The PRESIDENT: It is still hypothetical.
Richard WELCH: They are asking me that question I am asking. Can I ask what advice has he received?
The PRESIDENT: Yes, that is good. We can do that.