A report from Bob Nairn for the Liberal Party is
reported to estimate the cost of a light rail project for Canberra at $915 million, 50% more than previous estimates.

Infrastructure Australia also did not support light rail in its "
National Infrastructure Plan". The alternative I suggest is
bus transit lanes on existing streets. The existing bicycle lanes can be moved to parkland and the road space freed up used for bus bays. This will allow express buses to overtake local stopping ones, which would not be possible with a light rail system.
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