The Finance Minister says the Government's looking at other ferry options after turning down KiwiRail's request for more Interislander funding.

The cost of two mega-ferries and upgrading port infrastructure had ballooned to about $3 billion- and KiwiRail says it can't proceed without help.

Nicola Willis says that project is over, and they'll explore other options.

"The option that had been on the table for KiwiRail was the equivalent of the Ferrari, and now we as a Government are saying- look, can we have a look around, are there some very good, safe, reliable Toyota Corollas we could be using instead?"

LISTEN ABOVE

• 'KiwiRail must be s***ing themselves': Cook Strait ferry cost blowout lands with Nicola Willis
• Billion dollar blowout: Govt declines to fund Cook Strait mega-ferry project