New data reveals $53 billion privatisation push under NSW Government

New research released today by the NSW Parliamentary Library reveals privatisation has exploded since the Coalition came to Government in 2011 with a major sell off of the state’s assets.

The figures show the government has privatised $53 billion in public services and assets, from the Ports of Botany and Newcastle to the ‘poles and wires’ and last month’s land titles sale.

NSW Greens MP and Treasury spokesperson Justin Field said “The Coalition Government’s obsession with selling off the state’s assets and services provides a once-off sugar hit of funds but it isn’t resulting in long-term benefits or better services for the NSW community.

“When people see the massive number and value of public assets and services sold off by the O’Farrell/Baird/Berijiklian Government they are no doubt left wondering, what did we get for it?

“NSW still faces growing inequality, some of the worst housing affordability in the world and massive queues for public housing, growing youth unemployment in regional areas and crowded public transport.

“The recent lease of the LPI and Endeavour Energy are only the latest in a string of privatisations that transfer control of monopoly essential services over to the private sector.

“The public knows the end result is a push for profits, often with reduced services and high costs. The community also loses its say in how our essential services are run.

“Last year the chairman of the ACCC Rod Sims said ‘I'm now almost at the point of opposing privatisation because it's been done to boost proceeds, it's been done to boost asset sales and I think it's severely damaging our economy’.

“With the NSW budget just over a month away, the NSW public expect the Government to get on with the business of delivering high quality public services and end their obsession with privatising our state’s assets,” Mr Field said.


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