Suburban Rail Loop ‘disaster’ tipped to put Victoria in ‘very bad position’

Victoria will be in a “very bad position” if it proceeds with the $34.5 billion Suburban Rail Loop project, according to a leading economist.

The state’s credit rating is in danger of being downgraded as a result of spiraling debt, with Chief Economist and co-founder of MacroBusiness Leith van Onselen painting a grim picture of the years ahead if spending isn’t reined in.

Click PLAY to hear Leith van Onselen’s full interview on 3AW Drive 

“It’s going to put us in a very bad position,” Leith van Onselen told Jacqui Felgate about the major rail project.

“Perpetual debts, cutbacks, rising taxes and degrading credit rating. This (project) is a disaster.”