NSW Treasurer Matt Kean insists Sydney Water assets won’t be sold, after leaked documents revealed the state government had sought advice on selling the utility to help fund infrastructure projects
According to the documents, feedback had been sought on the viability of Sydney Water as the Coalition considered upgrading water infrastructure in the city’s west.
“Shareholders have shown a preference for maintaining or increasing returns to government and asset recycling,” according to a board-level briefing note generated by the utility.
Asset recycling is the sale of public assets to return cash to the state.
The report, prepared in February 2021 when Premier Dominic Perrottet was treasurer, outlines five options for Sydney Water. They include a full sale or partial sale, managing the assets as they are or introducing developer charges.
Ten days out from the March 25 election, privatisation has sharpened as a key voter issue in NSW, despite the major parties vowing not to sell public assets in the next term of government.
“There’s no privatisation of Sydney Water and there is no privatisation of Sydney Water assets. We’ve already made that very clear,” Mr Kean said on Wednesday.
“It’s not unusual that Sydney Water uses contractors that work for them,” he said accusing Labor of running a “scare campaign”.
Mr Kean also faced a grilling about the Liberals’ signature policy The Kids Future Fund, which was launched on Sunday.
It would set up an account for every NSW child aged under 10 to receive $400 a year from the government until they turn 18.
It remains unclear whether a child born interstate in border towns such as Tweed Heads or Albury-Wodonga would eligible for the scheme.
Mr Kean said Mr Perrottet “will answer those questions”, adding details of the policy had not been finalised.
It was the government’s “intention” for every child in NSW under to 10 to be included in the program.
The fund has been heavily criticised for creating a hierarchy of inequality benefiting wealthy families who can contribute up to $1000 a year to maximise the nest egg.
Mr Perrottet said on Tuesday that only children born in NSW would be eligible, despite contrary advice offered by Nationals MP Nichole Overall.
Mr Perrottet’s office has since clarified that children would be able to access the scheme through their parents using their principal place of residence.
The policy is projected to cost $850 million over the next four years and $525 million a year at its peak.
Mr Perrottet and Opposition Leader Chris Minns were to face off in a debate later on Wednesday.
– AAP
