There’s an opinion piece in the Dumb-Post this morning – Transmission Gully Shaping up as a costly blunder.
Amazing news that the government wants to piss $130 million a year up the wall for 25 years paying to a private consortium to build and operate the road, which means there needs to be an update to the graphic on my old blogpost about it.
The original BCR was 0.3 on a $900,000,000.00 project (meaning the benefits would be $300m, but now the cost to taxpayers is going to be $3,250,000,000.00 which means the BCR is less than 0.1.
It’s complete folly and total economic mismanagement. Gerry Brownlee you should be sacked. John Key you should resign. All work on the RoNS should be stopped immediately, and the designs, and economics of the RoNS projects should be audited (by overseas experts if necessary, as NZ seems to be out of its depth here). These projects are going to beggar the whole country. They are idiocy.
With the projected number of road users it will require subsidising everyone who uses the road $18.00. How absolutely ridiculous.
But then the government will have to toll the road to make up for the haemorrhaging costs and the tolls are going to be huge, and no one will be able to afford to use the road, and the number of road users will drop to the point where the one and only road user who will use it in the first 25 years will pay a toll of $3.25 billion dollars. Yes National party the numbers just don’t add up.