Threat to abandon the East West Link will hurt Victorian businesses

Threat to abandon the East West Link will hurt Victorian businessesThe Property Council is deeply concerned by the State Opposition’s announcement to scrap the East West Link project (Stage 1) if elected. Leader of the Opposition, Daniel Andrews, has confirmed that a Labor Government would support a legal case brought forward by local councils to render contracts for the major road project invalid.After receiving repeated assurances that any signed contract would be honoured, this decision is not supported by the Property Council.The Property Council believes that if the Opposition’s threat transpires, the project bidders will need to be well compensated for having their time, resources and money wasted. Sadly, the opportunity cost of participating in the bidding process can never be truly rectified. This decision will hurt many Victorian businesses, and undermine Victoria’s attractiveness as a market for interstate and overseas investment.