The controversial toll road project is not only causing pain to residents across affected suburbs, but the continued, rushed, policy of selling off the 51% majority of the project before its completion is set to dud the NSW tax payer out of monies that would have been raised.
Potential investors said the traffic and construction risk associated with the sale means NSW won't get as much money for the toll road as if it would have if it had opened the full motorway to traffic before selling.
No WestCONnex: Public transport spokesperson Andrew Chuter said “The likely sale price for 51% is being reported as being as low as $2 billion. This is atrocious considering the $17 billion build cost, the $28 billion in extensions necessary to make it saleable, and the valuation of the tolling concessions thrown in being somewhere around $6 billion.”
The haste to sell off Westconnex by the Berejiklian Government shows continued lack of transparency and dodgy dealings to developer mates, rather than in the public’s interest.
The government continues to force through bad deals and ponzi schemes* that do not present the best outcomes for taxpayers. Add this to the extensive increases in cost to the public to travel around Sydney by car - NSW residents, and visitors to our state are really getting the short end of the stick at every stage of this massive white elephant.
Billions are being wasted so developers can rake in the cash - whilst our Public Transport system continues to be under invested in and forced into disarray in preference to these Toll Roads.
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