Three Waters already has a $1 billion blowout

The Herald reports:

Amendments to the Three Waters reform plan have blown out establishment costs by an estimated $1 billion.

The cost of creating 10 new Water Services Entities (WSEs) over a transition period that now stretches to July 1, 2026 is expected to reach $2-$3b. The estimate before recent revisions to the plan was $1-$2b.

And we are told these reforms will save money!

If the current estimate for establishment costs is $2 – $3 billion, I am confident the actual cost (if they proceed) will end up around $5 billion.