Taxpayers will be slugged with a bill for $500MILLION if controversial light ...

Taxpayers could be slugged with a hefty $500million bill if Sydney's controversial light rail project fails.

As work on the contentious light rail continues, New South Wales taxpayers may have to front the amount if the consortium behind the project goes under.

To ensure the light rail is completed sooner, the government requested an extra $500million loan, provided by private banks, to the ALTRAC Light Rail Partnership. 

The NSW State Government on Friday admitted it is guarantor for the hefty loan.

Taxpayers could be slugged with a hefty $500 million bill if the controversial Sydney light rail project fails

Taxpayers could be slugged with a hefty $500 million bill if the controversial Sydney light rail project fails

Transport Minister Andrew Constance initially refused to answer the question posed by Labor about the funds but said the loan 'will be paid back'. 

'The NSW Government is not loaning the funds, but is providing a guarantee on the drawn down portion of the loan,' he said in the state's budget hearing. 

NSW

read more from dailymail.....

Get the latest news delivered to your inbox

Follow us on social media networks

PREV Upscale Equinox Wall Street gym employee 'fired for reporting lawyer who ...
NEXT Australian farmer says Woolworths and Coles $1 milk is hurting them worse than ...