BEREJIKLIAN’S PLAN TO SELL OFF MORE PUBLIC ASSETS LEAVES NSW WITH LESS MONEY LONG-TERM

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The Berejiklian Government is asking its departments to identify which assets can be sold off, as it pushes ahead with its privatisation agenda and leaves NSW with less money in the long-term.

The Berejiklian Government is asking its departments to identify which assets can be sold off, as it pushes ahead with its privatisation agenda and leaves NSW with less money in the long-term.

This year’s budget papers reveal the Berejiklian Government’s intention to sell-off more public assets. The 2018-19 Infrastructure Statement shows that agencies will be required to submit plans as to which assets can be sold off and privatized. (source: 2018-19 Infrastructure Statement).

This is on top of the more than $50 billion of publicly-owned assets already sold off by the Liberal-Nationals which includes income–generating assets such as the Land and Property Information, electricity assets and the ports. The Sydney Motorway Corporation is the next to have a majority stake of it sold off.

In contrast, NSW Opposition Leader Luke Foley has pledged to stop the reckless sell-offs guaranteeing that under a Foley Labor Government there will be:

 No privatisation of NSW hospitals;

 No privatisation of water;

 No more electricity privatisation; and

 No privatisation of public transport services.

 

This year’s Budget also clearly showed a substantial loss in dividends from public assets for NSW because they’re being sold off at such an alarming rate. In 2012-13, dividends were at $2.6 billion but dividends in 2017-18 have dropped to $1.5 billion. This means a loss of $1.1 billion per year or $11 billion of revenue over 10 years.

Quotes attributable to Shadow Treasurer Ryan Park

“There is no doubt, the Berejiklian Government wants to privatise and sell-off more public assets – it’s there in black and white.

“This ideological obsession with privatisation is short-sighted and puts the medium to longer term health of the NSW economy in danger.

“A Foley Labor Government will put an end to the reckless privatisations and selling off of our state.”

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