Latest news with #Conduent
Yahoo
6 days ago
- Business
- Yahoo
Conduent Named to Newsweek's 2025 Global Most Loved Workplaces® List
Conduent earns recognition for the third consecutive year, highlighting its dedication to culture, collaboration, and employee well-being FLORHAM PARK, N.J., June 17, 2025--(BUSINESS WIRE)--Conduent Incorporated (Nasdaq: CNDT), a global technology-driven business solutions and services company, today announced its inclusion in Newsweek's 2025 Global Most Loved Workplaces® list, marking its third consecutive appearance among the Top 100 companies worldwide. Conduent was recognized for its strong workplace culture that is built on trust, respect, purpose, and employee connection. The ranking was developed through research and analysis by Best Practice Institute (BPI), drawing insights from over two million employees globally. "It's an honor to be named one of Newsweek's Top 100 Global Most Loved Workplaces for the third consecutive year," said Cliff Skelton, President and CEO of Conduent. "This recognition is especially meaningful because it reflects how our associates truly feel about working at Conduent. We are committed to fostering a workplace culture that benefits not just our associates, but ultimately the clients and communities we serve." Newsweek's rankings are based on employee perspectives in five key areas: Optimism about future growth at the company Career achievement opportunities Alignment of employer and employee values Respect and inclusiveness at all levels Collaboration and team engagement Industry Leaders on Workplace Transformation"As we mark five years of recognizing the world's Most Loved Workplaces®, it's an honor to spotlight companies that place employee well-being at the center of their workplace cultures," said Jennifer H. Cunningham, Newsweek's Global Editor in Chief. "In today's rapidly changing world, this year's list reflects a growing global shift toward human-centered leadership as a key driver of resilience and success." "This year's Global Most Loved Workplaces® show what's possible when leaders turn employee sentiment into business strategy," said Louis Carter, BPI and Most Loved Workplaces® Founder and CEO. "From trust to purpose to collaboration, these companies are using data-driven insights to build cultures people don't want to leave. This year's Top 100 Global Most Loved Workplaces® showcase how leading with love, trust, and alignment drives performance, loyalty, and lasting impact. We're proud to work with Newsweek to highlight their achievements on a global stage." To view the complete 2025 Global Most Loved Workplaces® list, visit About ConduentConduent delivers digital business solutions and services spanning the commercial, government and transportation spectrum – creating valuable outcomes for its clients and the millions of people who count on them. The Company leverages cloud computing, artificial intelligence, machine learning, automation and advanced analytics to deliver mission-critical solutions. Through a dedicated global team of approximately 56,000 associates, process expertise and advanced technologies, Conduent's solutions and services digitally transform its clients' operations to enhance customer experiences, improve performance, increase efficiencies and reduce costs. Conduent adds momentum to its clients' missions in many ways including disbursing approximately $85 billion in government payments annually, enabling 2.3 billion customer service interactions annually, empowering millions of employees through HR services every year and processing nearly 13 million tolling transactions every day. Learn more at Note: To receive RSS news feeds, visit For open commentary, industry perspectives and views, visit or TrademarksConduent is a trademark of Conduent Incorporated in the United States and/or other countries. Other names may be trademarks of their respective owners. View source version on Contacts Media Contact: Sean Collins, Conduent, +1-310-497-9205, Investor Relations Contacts: David Chen, Conduent, ir@ Sign in to access your portfolio
The Advertiser
21-05-2025
- Business
- The Advertiser
Premier denies ticketless fares revamp is off the rails
Some commuters will be waiting even longer to tap on to public transport with phones and credit cards but a premier says the system overhaul is all going to plan. Buried within Tuesday's 2025/26 Victorian budget, the Allan Labor government revealed an upgrade of the state's myki system would be delivered over time and budget. It was announced in February train passengers would be able to travel with bank cards and their phones from 2026, with 22,000 myki readers to be replaced across the network. But the budget papers showed the replacement ticket reader program will take up to 18 months longer to finish and cost an extra $137 million. The project was originally costed at $543.6 million but the figure has blown out to $680.4 million following a "program reset". The completion date has also shifted from mid-2027 to late 2028 after the finalisation of ticketing reader design requirements for some trams. The myki system began to be rolled out in 2007 but was beset with million-dollar cost blowouts and system issues. Android users have been able to tap on and off for travel on the network since 2019 but iPhones and credit cards cannot be used. After a failed $1 million trial to find a solution, New Jersey-based company Conduent was awarded $1.7 billion to overhaul and operate the system for the next 15 years. Quizzed on the program speed bump on Wednesday, Premier Jacinta Allan said 50 per cent of people used Android phones and claimed it was "always going to be a staged roll out". "The trials are already under way right now and the work will be rolled out next year," she told reporters. "Indeed, for many Victorians, you can already use your phone." The Opal system in NSW has allowed all public transport passengers to tap on and off with their bank card or their phone since 2019 and ticketless travel is available on most of Queensland's network. New York, London, Singapore, Hong Kong and other major international cities also have digitalised fares. Opposition public transport spokesman Matthew Guy said the delay was yet another embarrassment for the government and inconvenience for long-suffering commuters. "The fact that the Victorian government still can't deliver this in Melbourne is astounding," he said. Treasurer Jaclyn Symes started to sell her "responsible" budget on Wednesday after a mixed response from industry, peak bodies and the public. Her first budget spruiked a $2.3 billion cost-of-living package, record health spending, no new taxes and a return to a $600 million operating surplus next financial year. Ms Symes gave an iron-clad guarantee the surplus would be realised, despite shrinking $1 billion since December. "Yes," she replied when asked if the surplus would survive at an annual post-budget lunch hosted by the Victorian Chamber of Commerce and Melbourne Press Club. Victoria's net debt is on track to hit $194 billion by 2028/29, sending interest repayments soaring close to $29 million a day. The treasurer said the majority of the debt was either "productive" or "necessary" because it came from infrastructure spending or keeping the state afloat during COVID-19. Ms Symes wasn't promising tax reform for businesses, including to the $31.5 million COVID-19 levy. With a budget behind her, the treasurer will fly to New York at the start of June for a trade mission that includes meetings with credit ratings agencies. Victoria's credit rating was downgraded by S&P and Moody's during the pandemic but both class the state's outlook as stable. Some commuters will be waiting even longer to tap on to public transport with phones and credit cards but a premier says the system overhaul is all going to plan. Buried within Tuesday's 2025/26 Victorian budget, the Allan Labor government revealed an upgrade of the state's myki system would be delivered over time and budget. It was announced in February train passengers would be able to travel with bank cards and their phones from 2026, with 22,000 myki readers to be replaced across the network. But the budget papers showed the replacement ticket reader program will take up to 18 months longer to finish and cost an extra $137 million. The project was originally costed at $543.6 million but the figure has blown out to $680.4 million following a "program reset". The completion date has also shifted from mid-2027 to late 2028 after the finalisation of ticketing reader design requirements for some trams. The myki system began to be rolled out in 2007 but was beset with million-dollar cost blowouts and system issues. Android users have been able to tap on and off for travel on the network since 2019 but iPhones and credit cards cannot be used. After a failed $1 million trial to find a solution, New Jersey-based company Conduent was awarded $1.7 billion to overhaul and operate the system for the next 15 years. Quizzed on the program speed bump on Wednesday, Premier Jacinta Allan said 50 per cent of people used Android phones and claimed it was "always going to be a staged roll out". "The trials are already under way right now and the work will be rolled out next year," she told reporters. "Indeed, for many Victorians, you can already use your phone." The Opal system in NSW has allowed all public transport passengers to tap on and off with their bank card or their phone since 2019 and ticketless travel is available on most of Queensland's network. New York, London, Singapore, Hong Kong and other major international cities also have digitalised fares. Opposition public transport spokesman Matthew Guy said the delay was yet another embarrassment for the government and inconvenience for long-suffering commuters. "The fact that the Victorian government still can't deliver this in Melbourne is astounding," he said. Treasurer Jaclyn Symes started to sell her "responsible" budget on Wednesday after a mixed response from industry, peak bodies and the public. Her first budget spruiked a $2.3 billion cost-of-living package, record health spending, no new taxes and a return to a $600 million operating surplus next financial year. Ms Symes gave an iron-clad guarantee the surplus would be realised, despite shrinking $1 billion since December. "Yes," she replied when asked if the surplus would survive at an annual post-budget lunch hosted by the Victorian Chamber of Commerce and Melbourne Press Club. Victoria's net debt is on track to hit $194 billion by 2028/29, sending interest repayments soaring close to $29 million a day. The treasurer said the majority of the debt was either "productive" or "necessary" because it came from infrastructure spending or keeping the state afloat during COVID-19. Ms Symes wasn't promising tax reform for businesses, including to the $31.5 million COVID-19 levy. With a budget behind her, the treasurer will fly to New York at the start of June for a trade mission that includes meetings with credit ratings agencies. Victoria's credit rating was downgraded by S&P and Moody's during the pandemic but both class the state's outlook as stable. Some commuters will be waiting even longer to tap on to public transport with phones and credit cards but a premier says the system overhaul is all going to plan. Buried within Tuesday's 2025/26 Victorian budget, the Allan Labor government revealed an upgrade of the state's myki system would be delivered over time and budget. It was announced in February train passengers would be able to travel with bank cards and their phones from 2026, with 22,000 myki readers to be replaced across the network. But the budget papers showed the replacement ticket reader program will take up to 18 months longer to finish and cost an extra $137 million. The project was originally costed at $543.6 million but the figure has blown out to $680.4 million following a "program reset". The completion date has also shifted from mid-2027 to late 2028 after the finalisation of ticketing reader design requirements for some trams. The myki system began to be rolled out in 2007 but was beset with million-dollar cost blowouts and system issues. Android users have been able to tap on and off for travel on the network since 2019 but iPhones and credit cards cannot be used. After a failed $1 million trial to find a solution, New Jersey-based company Conduent was awarded $1.7 billion to overhaul and operate the system for the next 15 years. Quizzed on the program speed bump on Wednesday, Premier Jacinta Allan said 50 per cent of people used Android phones and claimed it was "always going to be a staged roll out". "The trials are already under way right now and the work will be rolled out next year," she told reporters. "Indeed, for many Victorians, you can already use your phone." The Opal system in NSW has allowed all public transport passengers to tap on and off with their bank card or their phone since 2019 and ticketless travel is available on most of Queensland's network. New York, London, Singapore, Hong Kong and other major international cities also have digitalised fares. Opposition public transport spokesman Matthew Guy said the delay was yet another embarrassment for the government and inconvenience for long-suffering commuters. "The fact that the Victorian government still can't deliver this in Melbourne is astounding," he said. Treasurer Jaclyn Symes started to sell her "responsible" budget on Wednesday after a mixed response from industry, peak bodies and the public. Her first budget spruiked a $2.3 billion cost-of-living package, record health spending, no new taxes and a return to a $600 million operating surplus next financial year. Ms Symes gave an iron-clad guarantee the surplus would be realised, despite shrinking $1 billion since December. "Yes," she replied when asked if the surplus would survive at an annual post-budget lunch hosted by the Victorian Chamber of Commerce and Melbourne Press Club. Victoria's net debt is on track to hit $194 billion by 2028/29, sending interest repayments soaring close to $29 million a day. The treasurer said the majority of the debt was either "productive" or "necessary" because it came from infrastructure spending or keeping the state afloat during COVID-19. Ms Symes wasn't promising tax reform for businesses, including to the $31.5 million COVID-19 levy. With a budget behind her, the treasurer will fly to New York at the start of June for a trade mission that includes meetings with credit ratings agencies. Victoria's credit rating was downgraded by S&P and Moody's during the pandemic but both class the state's outlook as stable. Some commuters will be waiting even longer to tap on to public transport with phones and credit cards but a premier says the system overhaul is all going to plan. Buried within Tuesday's 2025/26 Victorian budget, the Allan Labor government revealed an upgrade of the state's myki system would be delivered over time and budget. It was announced in February train passengers would be able to travel with bank cards and their phones from 2026, with 22,000 myki readers to be replaced across the network. But the budget papers showed the replacement ticket reader program will take up to 18 months longer to finish and cost an extra $137 million. The project was originally costed at $543.6 million but the figure has blown out to $680.4 million following a "program reset". The completion date has also shifted from mid-2027 to late 2028 after the finalisation of ticketing reader design requirements for some trams. The myki system began to be rolled out in 2007 but was beset with million-dollar cost blowouts and system issues. Android users have been able to tap on and off for travel on the network since 2019 but iPhones and credit cards cannot be used. After a failed $1 million trial to find a solution, New Jersey-based company Conduent was awarded $1.7 billion to overhaul and operate the system for the next 15 years. Quizzed on the program speed bump on Wednesday, Premier Jacinta Allan said 50 per cent of people used Android phones and claimed it was "always going to be a staged roll out". "The trials are already under way right now and the work will be rolled out next year," she told reporters. "Indeed, for many Victorians, you can already use your phone." The Opal system in NSW has allowed all public transport passengers to tap on and off with their bank card or their phone since 2019 and ticketless travel is available on most of Queensland's network. New York, London, Singapore, Hong Kong and other major international cities also have digitalised fares. Opposition public transport spokesman Matthew Guy said the delay was yet another embarrassment for the government and inconvenience for long-suffering commuters. "The fact that the Victorian government still can't deliver this in Melbourne is astounding," he said. Treasurer Jaclyn Symes started to sell her "responsible" budget on Wednesday after a mixed response from industry, peak bodies and the public. Her first budget spruiked a $2.3 billion cost-of-living package, record health spending, no new taxes and a return to a $600 million operating surplus next financial year. Ms Symes gave an iron-clad guarantee the surplus would be realised, despite shrinking $1 billion since December. "Yes," she replied when asked if the surplus would survive at an annual post-budget lunch hosted by the Victorian Chamber of Commerce and Melbourne Press Club. Victoria's net debt is on track to hit $194 billion by 2028/29, sending interest repayments soaring close to $29 million a day. The treasurer said the majority of the debt was either "productive" or "necessary" because it came from infrastructure spending or keeping the state afloat during COVID-19. Ms Symes wasn't promising tax reform for businesses, including to the $31.5 million COVID-19 levy. With a budget behind her, the treasurer will fly to New York at the start of June for a trade mission that includes meetings with credit ratings agencies. Victoria's credit rating was downgraded by S&P and Moody's during the pandemic but both class the state's outlook as stable.
The Advertiser
20-05-2025
- Business
- The Advertiser
Public transport ticket upgrade runs late, over budget
Commuters will be waiting even longer to tap on and off public transport with phones and credit cards as a ticketing system overhaul falters. Buried deep within Tuesday's 2025/26 Victorian budget, the Labor government revealed an upgrade of the state's myki system would be delivered over time and budget. It was announced in February train passengers would be able to travel with bank cards and their phones from 2026, with 22,000 myki readers to be replaced across the network. But the budget papers showed the replacement ticket reader program will take up to 18 months longer to finish and cost an extra $137 million. The project was costed at $543.6 million in the last budget but the figure has blown out to $680.4 million following a "program reset". The completion date has also shifted from mid-2027 to late 2028 after the finalisation of ticketing reader design requirements for some trams. New Jersey-based company Conduent was awarded a $1.7 billion to overhaul and operate the myki system for the next 15 years. NSW's Opal system has allowed passengers to tap on and off with their bank card or their phone since 2019 and ticketless travel is available on most of Queensland's network. Victorian Opposition Leader Brad Battin scoffed at the delay. "We'll be the last state in the world that you can use a phone to tap on," he said. "If you go to Japan, if you go to New York, if you go England ... you can travel and use your phone." The Allan government maintained Victorians would be able to touch on with their credit cards, smartphones and watches from early 2026, saying the changes were part of a staged rollout. "We want to do this once and do it right, learning from experiences overseas and in other states," a government spokesman said. Treasurer Jaclyn Symes will begin to sell her first budget on Wednesday at a business event in Melbourne. The budget spruiked a $2.3 billion cost-of-living package, record health spending, no new taxes and a return to a $600 million operating surplus next financial year. But net debt is on track to hit $194 billion by 2028/29, sending interest repayments soaring close to $29 million a day. Ms Symes called it a "responsible budget" but it hasn't received an overly warm reception from business, property and development groups. "While we welcome no new taxes and the operating surplus, the incentives to grow and propel the private sector are modest," Victorian Chamber of Commerce and Industry chief executive Paul Guerra said. Commuters will be waiting even longer to tap on and off public transport with phones and credit cards as a ticketing system overhaul falters. Buried deep within Tuesday's 2025/26 Victorian budget, the Labor government revealed an upgrade of the state's myki system would be delivered over time and budget. It was announced in February train passengers would be able to travel with bank cards and their phones from 2026, with 22,000 myki readers to be replaced across the network. But the budget papers showed the replacement ticket reader program will take up to 18 months longer to finish and cost an extra $137 million. The project was costed at $543.6 million in the last budget but the figure has blown out to $680.4 million following a "program reset". The completion date has also shifted from mid-2027 to late 2028 after the finalisation of ticketing reader design requirements for some trams. New Jersey-based company Conduent was awarded a $1.7 billion to overhaul and operate the myki system for the next 15 years. NSW's Opal system has allowed passengers to tap on and off with their bank card or their phone since 2019 and ticketless travel is available on most of Queensland's network. Victorian Opposition Leader Brad Battin scoffed at the delay. "We'll be the last state in the world that you can use a phone to tap on," he said. "If you go to Japan, if you go to New York, if you go England ... you can travel and use your phone." The Allan government maintained Victorians would be able to touch on with their credit cards, smartphones and watches from early 2026, saying the changes were part of a staged rollout. "We want to do this once and do it right, learning from experiences overseas and in other states," a government spokesman said. Treasurer Jaclyn Symes will begin to sell her first budget on Wednesday at a business event in Melbourne. The budget spruiked a $2.3 billion cost-of-living package, record health spending, no new taxes and a return to a $600 million operating surplus next financial year. But net debt is on track to hit $194 billion by 2028/29, sending interest repayments soaring close to $29 million a day. Ms Symes called it a "responsible budget" but it hasn't received an overly warm reception from business, property and development groups. "While we welcome no new taxes and the operating surplus, the incentives to grow and propel the private sector are modest," Victorian Chamber of Commerce and Industry chief executive Paul Guerra said. Commuters will be waiting even longer to tap on and off public transport with phones and credit cards as a ticketing system overhaul falters. Buried deep within Tuesday's 2025/26 Victorian budget, the Labor government revealed an upgrade of the state's myki system would be delivered over time and budget. It was announced in February train passengers would be able to travel with bank cards and their phones from 2026, with 22,000 myki readers to be replaced across the network. But the budget papers showed the replacement ticket reader program will take up to 18 months longer to finish and cost an extra $137 million. The project was costed at $543.6 million in the last budget but the figure has blown out to $680.4 million following a "program reset". The completion date has also shifted from mid-2027 to late 2028 after the finalisation of ticketing reader design requirements for some trams. New Jersey-based company Conduent was awarded a $1.7 billion to overhaul and operate the myki system for the next 15 years. NSW's Opal system has allowed passengers to tap on and off with their bank card or their phone since 2019 and ticketless travel is available on most of Queensland's network. Victorian Opposition Leader Brad Battin scoffed at the delay. "We'll be the last state in the world that you can use a phone to tap on," he said. "If you go to Japan, if you go to New York, if you go England ... you can travel and use your phone." The Allan government maintained Victorians would be able to touch on with their credit cards, smartphones and watches from early 2026, saying the changes were part of a staged rollout. "We want to do this once and do it right, learning from experiences overseas and in other states," a government spokesman said. Treasurer Jaclyn Symes will begin to sell her first budget on Wednesday at a business event in Melbourne. The budget spruiked a $2.3 billion cost-of-living package, record health spending, no new taxes and a return to a $600 million operating surplus next financial year. But net debt is on track to hit $194 billion by 2028/29, sending interest repayments soaring close to $29 million a day. Ms Symes called it a "responsible budget" but it hasn't received an overly warm reception from business, property and development groups. "While we welcome no new taxes and the operating surplus, the incentives to grow and propel the private sector are modest," Victorian Chamber of Commerce and Industry chief executive Paul Guerra said. Commuters will be waiting even longer to tap on and off public transport with phones and credit cards as a ticketing system overhaul falters. Buried deep within Tuesday's 2025/26 Victorian budget, the Labor government revealed an upgrade of the state's myki system would be delivered over time and budget. It was announced in February train passengers would be able to travel with bank cards and their phones from 2026, with 22,000 myki readers to be replaced across the network. But the budget papers showed the replacement ticket reader program will take up to 18 months longer to finish and cost an extra $137 million. The project was costed at $543.6 million in the last budget but the figure has blown out to $680.4 million following a "program reset". The completion date has also shifted from mid-2027 to late 2028 after the finalisation of ticketing reader design requirements for some trams. New Jersey-based company Conduent was awarded a $1.7 billion to overhaul and operate the myki system for the next 15 years. NSW's Opal system has allowed passengers to tap on and off with their bank card or their phone since 2019 and ticketless travel is available on most of Queensland's network. Victorian Opposition Leader Brad Battin scoffed at the delay. "We'll be the last state in the world that you can use a phone to tap on," he said. "If you go to Japan, if you go to New York, if you go England ... you can travel and use your phone." The Allan government maintained Victorians would be able to touch on with their credit cards, smartphones and watches from early 2026, saying the changes were part of a staged rollout. "We want to do this once and do it right, learning from experiences overseas and in other states," a government spokesman said. Treasurer Jaclyn Symes will begin to sell her first budget on Wednesday at a business event in Melbourne. The budget spruiked a $2.3 billion cost-of-living package, record health spending, no new taxes and a return to a $600 million operating surplus next financial year. But net debt is on track to hit $194 billion by 2028/29, sending interest repayments soaring close to $29 million a day. Ms Symes called it a "responsible budget" but it hasn't received an overly warm reception from business, property and development groups. "While we welcome no new taxes and the operating surplus, the incentives to grow and propel the private sector are modest," Victorian Chamber of Commerce and Industry chief executive Paul Guerra said.
Perth Now
20-05-2025
- Business
- Perth Now
Public transport ticket upgrade runs late, over budget
Commuters will be waiting even longer to tap on and off public transport with phones and credit cards as a ticketing system overhaul falters. Buried deep within Tuesday's 2025/26 Victorian budget, the Labor government revealed an upgrade of the state's myki system would be delivered over time and budget. It was announced in February train passengers would be able to travel with bank cards and their phones from 2026, with 22,000 myki readers to be replaced across the network. But the budget papers showed the replacement ticket reader program will take up to 18 months longer to finish and cost an extra $137 million. The project was costed at $543.6 million in the last budget but the figure has blown out to $680.4 million following a "program reset". The completion date has also shifted from mid-2027 to late 2028 after the finalisation of ticketing reader design requirements for some trams. New Jersey-based company Conduent was awarded a $1.7 billion to overhaul and operate the myki system for the next 15 years. NSW's Opal system has allowed passengers to tap on and off with their bank card or their phone since 2019 and ticketless travel is available on most of Queensland's network. Victorian Opposition Leader Brad Battin scoffed at the delay. "We'll be the last state in the world that you can use a phone to tap on," he said. "If you go to Japan, if you go to New York, if you go England ... you can travel and use your phone." The Allan government maintained Victorians would be able to touch on with their credit cards, smartphones and watches from early 2026, saying the changes were part of a staged rollout. "We want to do this once and do it right, learning from experiences overseas and in other states," a government spokesman said. Treasurer Jaclyn Symes will begin to sell her first budget on Wednesday at a business event in Melbourne. The budget spruiked a $2.3 billion cost-of-living package, record health spending, no new taxes and a return to a $600 million operating surplus next financial year. But net debt is on track to hit $194 billion by 2028/29, sending interest repayments soaring close to $29 million a day. Ms Symes called it a "responsible budget" but it hasn't received an overly warm reception from business, property and development groups. "While we welcome no new taxes and the operating surplus, the incentives to grow and propel the private sector are modest," Victorian Chamber of Commerce and Industry chief executive Paul Guerra said.
Herald Sun
20-05-2025
- Business
- Herald Sun
Victorian state budget: Myki credit card tap-ons running 18 months late
An upgrade of the troubled myki system to allow for credit card tap-ons across the transport network will cost an extra $137 million and is running 18 months late. The new financial hit is among $3.3 billion in major project blowouts that have battered the state budget in the past year — a total increase of about 2 per cent for the projects impacted. Delays of three months or more have also hit almost a third of projects across the state, as broader construction sector woes continued to hit the Big Build. The taxpayer pain comes as the Allan Government taps the brakes on its Big Build, which is spread across 518 public sector roads and rail, schools, and hospitals, to create a more 'sustainable infrastructure program'. Some of the budget blowouts include $838m on the Metro Tunnel announced last year, more than $410m on regional rail upgrades, $53m on the troubled Murray Basin Rail Project, and $40m on the Tarneit railway station in Melbourne's west. Most of the blowouts are blamed on market forces, with construction costs soaring over recent years. But the $137m blowout on the myki upgrade was due to a 'program reset', which was forced after contractor Conduent complained of unforeseen costs. This included being unable to access source code and other technical information from the previous operator. Budget papers show the full project is not due to finish until the end of 2028, after being due to wrap up halfway through 2027. Despite this, the government has committed to having credit cards in use for full fare passengers on some modes of transport early next year, after it announced it would do a staged rollout. The Herald Sun revealed the project had been thrown into turmoil this year when one of the project partners walked away from the job, following a legal dispute over costs. The budget papers suggest the worst of the material price hikes sparked by Covid-19 and global chaos are behind us, but that risks of skills shortages remain. After annual infrastructure spending hit an unprecedented $24bn a year, capital investments are set to slow to $16bn a year by 2028-29, under what Treasurer Jaclyn Symes calls a 'commitment to a sustainable infrastructure program'. An extra $8.1bn in new projects have been jammed into the pipeline this year, however, ensuring job numbers don't dry up overnight. This includes the previously announced spending on the Sunshine station expansion and untangling of rail lines in the west, which the Allan Government says paves the way to build an Airport Rail Link. It also includes $1.2bn in schools and education, and $214m on hospitals. As Victoria's infrastructure spending slows – albeit to a level that is still higher than prior to the Covid-19 crisis – budget papers also show a significant proportion of spending over the next decade will be on the $34.5 billion Suburban Rail Loop East. The Government now calls the first stage of a 90km orbital rail line 'Australia's biggest housing project' due to plans to build 70,000 new homes around station precincts, including in suburban high rises. The State hopes to secure $11.5bn from the Commonwealth to help pay for the 26km tunnel between Cheltenham and Box Hill, which will be dug from next year and open to passengers in 2035. So far, the Albanese Government has provided $2.2bn, but has baulked at further cash injections until issues with a project business case – raised by its advisory body Infrastructure Australia – have been addressed. State Budget papers take a dig at the Commonwealth for historically underfunding Victorian infrastructure, as a share of population. This includes this year's federal budget, which provides Victoria a 21.4 per cent share of national rail and road funding despite the state housing 25.8 per cent of the country's population. 'Funding received from the Commonwealth is also often not aligned with project milestones, meaning the State is providing upfront cashflows for jointly funded major projects,' the Budget says. It says a co-ordinated effort by the Commonwealth and State is needed to better deliver infrastructure in the national interest including 'investment in the city-shaping Suburban Rail Loop, a crucial transport link and Australia's biggest housing project in its most populous city'.
