Media Release.
Queenslanders are being fleeced of hundreds of millions of dollars as the Newman Government lines the pockets of asset sale consultants, says Rockhampton MP Bill Byrne.
“The bill for the army of highly paid advisors helping to prepare our assets for privatisation is already estimated at $300 million and the Newman Government is advertising for even more consultants,” he said.
“This is extreme arrogance on the part of the LNP which has no mandate to sell our ports, electricity network or water pipelines."
“Taxpayers are footing the lavish bill for these consultants, long before voters have a chance to have their say."
“Companies such as Merrill Lynch, Macquarie Capital and RBC Capital Markets are getting even richer at the expense of ordinary Queenslanders, even though the Newman Government promised it would not privatise state assets without a mandate.”
This week the government advertised for consultants to provide technical and environmental advisory services in addition to the 17 consultants already being paid by the taxpayer to help prepare the assets for sale.
Shadow Treasurer Curtis Pitt said the cost of consultants on asset sales typically ranged between 1% and 1.5% of the proceeds and the Newman Government expects to realise $37 billion from its asset sales.
“We estimate the final bill for consultants will be far in excess of $300 million. Frankly, that is staggering waste from a government that lacks the competency to deliver its own agenda without recourse to advisors."
“That is a vast sum of money that could be doing so much to improve communities throughout Queensland."
“What could Rockhampton do with $300 million?” Mr Byrne said."
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