The Baird Government’s financial mismanagement has been revealed with budgets for infrastructure projects blowing out to the tune of $8.8 billion – almost the equivalent of last year’s record-breaking stamp duty revenue.

$6.8 billion of this blowout is attributable to Westconnex alone, with budget blowouts on everything from the Opal card to the Tibby Cotter pedestrian bridge and the bungled schools IT program forcing the Baird Government to fritter away taxpayer’s cash.

Westconnex has blown out from an initial $10 billion, with the Government going to extraordinary lengths to hide scrutiny of the project.

The NSW Opposition says the money wasted from the Government’s mismanagement could have been used to fund much-needed upgrades for schools and hospitals in the Inner West.

In 2014/15 the NSW Government raised a record $9.2 billion in stamp duty revenue which is depleting rapidly because of rising costs on a range of projects (see table below).

The Labor Opposition believes this money would be better spent on schools and hospitals.

Quotes attributable to Shadow Treasurer Ryan Park

“Baird’s budget blowouts are costing NSW Taxpayers $24 million a day and this means NSW residents are forced to go without much needed hospitals and schools because of financial mismanagement under this Government.

“The Auditor General has already made it clear that the management of major projects needs to improve and it’s about time Mike Baird listened to this advice and get these costs under control.

“Wearing a hard hat and a high-vis vest for a photo opportunity is the easy part. Mike Baird hasn’t figured out that the hard yards come in delivering something on time and on budget.”

Quotes attributable to Member for Summer Hill

“The cost blowouts for Westconnex are disgraceful, particularly given the Government’s significantly lower and unfair valuations to homeowners for acquired properties.”

“The Government crows about its financial management, but has set about wasting funds while students are sitting in overcrowded classrooms.”

“The Baird Government is more interested in vanity projects – which it can’t seem to manage the costs for – rather than basic services.”
 

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