Has The Cost Of Light Rail Increased To $805 Million?

Has Simon Corbell admitted that the cost of the light rail project has increased from $614 million to $805 million? It seems he did so on radio this morning, Shadow Minister for Transport Alistair Coe said today.

ABC 666 this morning (8 September 2014):

Philip Clark: We’re still talking about, as Katy Gallagher pointed out that unless it costs around $600 million in adjusted terms, then the project won’t be proceeding is that right?

Simon Corbell: Yes, absolutely, look, in adjusted terms, reflecting the costs of the project once complete, in the year that it’s completed, that’s very, very important, but yes the adjusted terms, parameters as the Chief Minister set out, very much remains central to the government’s thinking, and that’s a sensible and prudent approach.

“If the project is completed in 2021 as expected, the $614 million figure adjusted for inflation at 2.75% per year is $805 million,” Alistair Coe said.

“This $805 million cost is significantly higher than what the government has ever stated would be the cost of the project.

“The government must clarify if Simon Corbell was wrong or $805 million is the cost of the project,” Mr Coe concluded.