The 2017 Queensland Budget estimated the cost of the Cross River Rail project, which includes a new line under the Brisbane River, at $5.4 billion.108 The 2019 Budget included an additional $1.48 billion of 'private finance contributions', bringing the total project cost to $6.9 billion.109
Despite this change in budgeted cost, it continues to be referred to as a $5.4 billion project,110 and the Queensland Government insists the project is still on budget.111
Technical issues related to the Boggo Road station including problems with the track alignment could cause a cost overrun, though the Government has not adjusted the official expected cost.112
In April 2020, the independent board overseeing the project was removed.113 The Cross River Rail Authority now reports directly to Cross River Rail Minister Kate Jones. She said this change was made to improve oversight of the project in an attempt to avoid cost overruns:114
[I want] a direct line of sight on how we build the Cross River Rail project. It's my job to hold [contractor CPB] to that contract... You need to be hands-on to keep the contractor accountable. They need to know we are breathing down their neck.
In July 2020, the Shadow Transport Minister wrote to the Auditor- General suggesting the actual cost may be as high as $12 billion.115
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108. Queensland Government (2017, p. 74).
109. Queensland Government (2019, pp. 103-104). See also Adept Economics (n.d.).
110. For example: Elks and Williams (2020); Elks (2020); Knowles (2020) and Gordon (2020).
111. Marszalek (2020).
112. McCutcheon (2020).
113. Crockford and Lynch (2020).
114. Elks and Williams (2020).
115. Minnikin (2020).