Billionaire property baron Max Beck, once a key supporter of former Premier Daniel Andrews, has criticised the Victorian government’s Suburban Rail Loop (SRL), calling the current plan flawed and arguing it would be better delivered by a private investor.
At 83, Beck continues to support major infrastructure projects but places blame for significant cost overruns on public sector mismanagement. He accused bureaucrats of drafting contracts riddled with loopholes, allowing contractors to underbid and then drive up costs by 30–40% through variations.
His comments come as Victoria faces more than $18 billion in budget blowouts across its three flagship infrastructure projects: the West Gate Tunnel, the Metro Tunnel, and the North-East Link.
Beck also called for the scrapping of taxes such as the controversial land tax by raising the GST instead. “A couple of percentage points would simplify the system and relieve businesses of unnecessary red tape,” he said.
Defending Daniel Andrews, Beck described him as “a good person with guts” who was unfairly criticised during the Covid pandemic. He stressed that Victoria must keep building—even at the expense of rising debt—to keep pace with population growth and stay ahead of Sydney.
The property mogul also unveiled plans to turn the coastal town of Sorrento into a “Sorrento-by-the-Sea,” styled after Carmel-by-the-Sea in California.
Estimated to be worth over $1.1 billion, Beck played a pivotal role in the Royal Children’s Hospital development under a public-private partnership model and was behind the Essendon Fields redevelopment.
