Australian Conservatives leader and South Australian Senator Cory Bernardi has once again been proven right with confirmation today that Barnaby Joyce’s 1700 kilometre inland rail project is not financially viable.
Today’s The Australian reports the Australian Rail Track Corporation has conceded that the Deputy Prime Minister’s pet project is unlikely to generate a commercial return, despite its off-budget treatment as an equity investment.
Immediately after last year’s Federal Budget Senator Bernardi criticised the Turnbull Government’s financial accounting warning the project could be a “white elephant” because it fails to connect with the Port of Brisbane.
ARTC boss John Fullerton told parliament’s public accounts and audit committee on Friday that from a commercial perspective, the rail line would not claw back its construction costs.
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