The right way forward on the Melbourne Metro proposal
23 February 2016
Premier Andrews of Victoria today issued a media release entitled “Time for Turnbull to back Melbourne Metro,” in an evident attempt to pressure the Commonwealth into immediately handing over $4.5 billion.
The Turnbull Government has a clear process in place when considering whether it will provide funding to major infrastructure projects.
As Premier Andrews is aware, any project with a Commonwealth contribution of more than $100 million requires a full assessment by Infrastructure Australia before funding commitments are made.
This business plan will now go to Infrastructure Australia for an assessment.
The Turnbull Government will consider whether it will provide funding to Melbourne Metro, how much and in what form—grant, loan, equity commitment or other—when the business plan has been assessed by Infrastructure Australia and IA has provided advice to the Turnbull Government.
In any evaluation of the project, the Commonwealth will seek to ensure the value for money and financing and funding principles recently released by the Australian Government are addressed.