Victoria Premier Jacinta Allan refuses to disclose cost of CFMEU corruption to taxpayers
Victoria Premier Jacinta Allan declined in parliament to give a figure for the taxpayer cost of the CFMEU construction-union corruption inquiry, despite persistent questioning. ABC News Australia reported that the exchange reignited debate on cost inflation in public infrastructure projects.
Victoria Premier Jacinta Allan declined in parliament to put a figure on the taxpayer cost flowing from the corruption inquiry into the CFMEU construction union, ABC News Australia reported. The opposition pressed the question of how much of the cost overruns on Big Build infrastructure projects were tied to union negotiation pressure.
The investigations into the federally-administered CFMEU have prompted a fresh review of tender practices across Australia's construction sector in recent months. Allan's response indicated that assessments would be premature until audit reports are published.
For financial markets, predictability of public infrastructure costs bears on the state's credit rating and on returns from long-dated capital projects. Investors will be tracking publication of the relevant administrator reports by year-end. Not investment advice.
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