news, local-news, Port of newcastle sale cost, port of newcastle sale consultancy fees, port of newcastle sale auditor general's report
The NSW Government spent almost $25 million on consultants during the privatisation of the Port of Newcastle, new figures show. An Auditor General’s report released on Friday revealed that the government spent $24,746,914 on advice related to the 98-year lease deal, struck in 2014. The then-Baird government dropped $7.8 million on financial guidance from Morgan Stanley Australia, $6.1 million on legal adviser Minter Ellison and $5.6 million with accounting and tax firm Price Waterhouse Coopers, among its spending. Shadow Minister for the Hunter Kate Washington accused the government of looking after “their mates at the big end of town”. When asked how much she believed should have been spent on consultants, Ms Washington said: “we just wouldn’t have flogged it off in the first place”. “The government has sacked so many public servants that they now need to hire consultants to do the same job for a massive fee,” she said. “This government has failed to deliver value for money to local families.” Premier Gladys Berejiklian’s office referred the Herald’s questions to Treasurer Dominic Perrottet. “Our government has generated around $30 billion from asset recycling to transform our state with a $73 billion infrastructure program,” Mr Perrottet said. “To do that, we get the best advice from the best advisers to get the best outcome for the people of NSW.” Newcastle MP Tim Crakanthorp labelled the privatisation “a dodgy deal” and said the money would have been better spent on services for Newcastle residents. “It should have been invested in addressing overcrowding in our schools, tackling the ballooning waiting lists at local hospitals and getting more police on the ground in our city,” he said. A spokesman for Planning Minister Anthony Roberts said the cost of consultants represented just less that 1.5 per cent of the $1.75 billion the government made from the sale of the port. “Labor have no credibility on spending,” he said. A Port of Newcastle spokesperson said the issue was “a matter for the NSW Government”. Related content:
The NSW Government spent almost $25 million on consultants during the privatisation of the Port of Newcastle, new figures show.
An Auditor General’s report released on Friday revealed that the government spent $24,746,914 on advice related to the 98-year lease deal, struck in 2014.
The then-Baird government dropped $7.8 million on financial guidance from Morgan Stanley Australia, $6.1 million on legal adviser Minter Ellison and $5.6 million with accounting and tax firm Price Waterhouse Coopers, among its spending.
Shadow Minister for the Hunter Kate Washington accused the government of looking after “their mates at the big end of town”.
When asked how much she believed should have been spent on consultants, Ms Washington said: “we just wouldn’t have flogged it off in the first place”.
“The government has sacked so many public servants that they now need to hire consultants to do the same job for a massive fee,” she said. “This government has failed to deliver value for money to local families.”
Shadow Minister for the Hunter Kate Washington.
Premier Gladys Berejiklian’s office referred the Herald’s questions to Treasurer Dominic Perrottet.
“Our government has generated around $30 billion from asset recycling to transform our state with a $73 billion infrastructure program,” Mr Perrottet said.
“To do that, we get the best advice from the best advisers to get the best outcome for the people of NSW.”
Newcastle MP Tim Crakanthorp labelled the privatisation “a dodgy deal” and said the money would have been better spent on services for Newcastle residents.
“It should have been invested in addressing overcrowding in our schools, tackling the ballooning waiting lists at local hospitals and getting more police on the ground in our city,” he said.
A spokesman for Planning Minister Anthony Roberts said the cost of consultants represented just less that 1.5 per cent of the $1.75 billion the government made from the sale of the port.
“Labor have no credibility on spending,” he said.
A Port of Newcastle spokesperson said the issue was “a matter for the NSW Government”.
