Media Statements

Joint Statement - Labor communities to pay for Labor's $20 billion SRL funding shortfall

Joint Statement – Labor communities to pay for Labor’s $20 billion SRL funding shortfall

James Newbury, Shadow Minister for Planning

David Southwick, Shadow Minister for Transport Infrastructure

Monday 24 June 2024

Victorian communities continue to pay the price for Labor’s financial mismanagement as precincts along the Suburban Rail Loop East (SRL East) corridor face up to 50-storey housing developments.

These latest planning approvals by the Allan Labor Government come as the SRL continues to face a $20 billion funding shortfall, which may be made up via new “value-capture” taxes on property, including special land taxes and stamp duty premiums.

This ongoing funding uncertainty comes as the Australian Population Research Institute joins the Grattan Institute and Rail Futures Institute in calling on the Allan Labor Government to pause the SRL and instead progress other vital transport infrastructure projects across the state.

In January 2024, the Victorian Liberals and Nationals called on the Allan Labor Government to pause the SRL and announced a future Pesutto Government reserved the right not to complete the SRL.

Shadow Minister for Planning, James Newbury, said: “The Allan Labor Government has a plan to attack the character and amenity of Melbourne’s suburbs around the Suburban Rail Loop.

“To make up for their failures, Labor will cram in high rise development into suburban streets. These cheap and nasty developments will be a signature of Premier Jacinta Allan’s Government.”

Shadow Minister for Transport Infrastructure, David Southwick, said: “Labor cannot manage money, cannot manage major projects and Victorians are paying the price.

“Instead of putting all our eggs in one basket and arrogantly pressing ahead with the SRL, Labor must pause this project and prioritise basic road, rail and public transport infrastructure across the state.”

James Newbury, Shadow Minister for Planning

David Southwick, Shadow Minister for Transport Infrastructure