Clem 7 Tunnel Farce – Just Like the NBN
OK, so Brisbane needs better traffic systems. But this absurdly expensive, oversold, poorly researched, underused tunnel?
The Clem 7 tunnel would never have been built if actual costs and usage had been known beforehand.
RiverCity is carrying $1.3 billion in debt and wrote down its $1.56 billion of assets to $258 million at June 30 last year.
What the heck were they thinking?
At least it only cost taxpayers and private investors about $3 billion.
The NBN is even more overpriced and unnecessary. $40 billion – $6000 for every household in Australia whether they want it or not – when existing and wireless technologies can provide similar speeds at a fraction of the cost with no public investment?
What the heck are they thinking?
The only internet infastructure sector that genuinely needs taxpayer money is rural and remote Australia, where an investment of about $3 billion into satellite and wireless technologies would provide speeds comparable with those currently available to city users.