City Rail Loop now costing $5.5 billion

Stuff reports:

The price of Auckland’s big City Rail Link project has risen by just over $1 billion, with the chief executive blaming Covid-19.

The price of the project will now be $5.5 billion and its completion will be at least a year later than previously thought.

The long-speculated cost increase to the country’s biggest public transport infrastructure project was confirmed on Wednesday.

Auckland Council and the Government are expected to split the higher cost between them.

The project was initially costed at $1 to $1.5 billion. It is now looking to cost at least $5.5 billion.

Now consider Labour’s light rail plans which are costed at $15 to $29 billion. Imagine if they actually proceed, what they might end up costing – $50 billion? $60 billion? $70 billion?