Privatisation an election issue: NSW Labor

  • Oops!
    Something went wrong.
    Please try again later.
·1-min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.

NSW Labor will introduce a bill into parliament to safe-guard state assets from further privatisation ahead of the next election.

Opposition Leader Chris Minns says Premier Dominic Perrottet has refused to rule out any more privatisation as promised by his predecessor Gladys Berejiklian, so NSW Labor wants to ensure no more public assets are sold.

"The big broken promise that NSW Labor is looking at and I think will be a key component of the next election in March 2023 is the promise of the previous premier not to privatise anymore state assets," Mr Minns said at a news conference alongside federal Labor leader Anthony Albanese on Monday.

Labor says $93.6 billion worth of public assets have been sold by the coalition in the more than a decade it has been in government in NSW.

"The state used to get enormous dividends from those assets that would pay for schools and hospitals and essential frontline workers," Mr Minns said.

"That's not happening any more."

The private member's bill, to be introduced by shadow treasurer Daniel Mookhey this week, requires that before all or any part of listed state-owned assets are sold or leased both houses of parliament need to vote in support of the proposed privatisation.

It also requires that a review of the sale be conducted by a parliamentary committee.

Mr Mookhey said Labor agreed with Australian Competition and Consumer Commission chair Rod Sims who said in July that privatising assets without allowing for competition or regulation created private monopolies that raised prices, reduced efficiency and harmed the economy.

"That's why we need to protect this state from further privatisations without proper scrutiny in parliament," Mr Mookhey said.

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting