NSW sells $93.6bn of public property in 10 years, Labor seeks to block further privatisation

By Eric

2016.11.16

The NSW Labor Party will introduce a bill into Parliament before the next general election to protect NSW public assets from further privatisation.

Opposition Leader Chris Minns said NSW Labor wanted legislation to ensure that public assets were not sold off because Premier Dominic Perrottet had refused to commit to further privatisation of government assets, as his predecessor Gladys Berejiklian had done.

At a press conference with federal Labor leader Anthony Albanese on Monday, Collins said: “NSW Labor and I believe that one of the big promises that will not be broken will be the non-privatisation of public assets as allowed by the previous governor.

The Labor Party said that in the more than 10 years of the NSW Liberal National Party Coalition government, $93.6 billion worth of public assets had been sold off.

The government used to receive huge dividends from these assets, which would pay for schools, hospitals and essential frontline workers,” Cormins alleges.

“These dividends are no longer available.”

Daniel Mookhey, the Shadow Treasurer, said Labour was calling for legislation to be passed so that any sale or lease of publicly owned assets would be subject to a vote in both houses of parliament.

Labor also asked for a parliamentary committee to review the sale of public assets.

Mook said Labor agreed with Rod Sims, chairman of the Australian Competition and Consumer Commission (ACCC), who said in July this year that privatising assets without allowing competition or regulation would create a private monopoly that would raise prices, reduce efficiency and harm the economy.

That’s why we need to protect the state from further privatisation without proper parliamentary scrutiny,” Mook said.

Labor’s bill will be tabled in Parliament later this week.

 

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