Multibillion-dollar bill to taxpayers is expected to grow in coming years. Photo: Craig Abraham

And the multibillion-dollar bill to taxpayers – already more than $10 billion – is forecast to grow in coming years, defying the predictions of those who spearheaded the system’s privatisation 15 years ago.

Victoria’s public transport system was privatised in 1999. Then premier Jeff Kennett predicted at the time that subsidies would steadily fall to the extent that public transport would eventually generate revenue for the state – $18.5 million a year ($28.05 million in 2013 dollars) by 2013-14, he said. Continue Reading…