The Kiwirail Interislander saga continues

Taxpayers are already on the hook for almost half a billion dollars, but that won't be the final bill

This morning, 1 News is reporting that the cancellation of the i-Rex ferries has so far cost taxpayers $484 million.

That's almost half a billion dollars.

That could probably fund thousands of new doctors, maybe complete a few hospital rebuilds, or how about money for our experienced police so they don’t have to go to Australia or get advice on picking up side hustles to make ends meet?

“As at September 2023, the Infrastructure and Investment Group (IIG) within Health New Zealand was responsible for over 110 health infrastructure projects worth a total of $7.7 billion. These projects are in various phases of completion and included the new Dunedin Hospital. Large hospital rebuilds were planned for Nelson and Whangarei.

The Government set aside $103 million in the budget to cover all capital cost pressures across multiple projects.”

Note, the $484 mn doesn't capture the full costs. I'll elaborate more later.