Deputy leader Dominic Perrottet answers questions after Premier Berejiklian. Photo: Wolter PeetersAfter months of fiercely defending the NSW government’s plans to privatise the land titles registry, the newly installed deputy Liberal leader has toned down the rhetoric.
Dominic Perrottet, who as Minister for Finance, Services and Property led the charge to lease the 150-year-old registry to the private sector for 35 years, did not rule out the possibility it would be reconsidered.
“Look, we will have those discussions over time. Today, we’re not going to go into in-depth discussions in relation to various policy matters,” he said.
“We’ve got to sit down with our colleagues and once we form a new government we will look at a number of issues and come back to you shortly.”
The government has copped criticism from many peak bodies, including Law Society of NSW, Real Estate Institute of NSW, Property Council of Australia NSW, History Council of NSW, and Media Entertainment & Arts Alliance, for pursuing the privatisation of the registry without public consultation or independent assessment.
The Public Service Association said the 35-year concession of Land and Property Information (LPI) will have an “enormous detrimental impact” on the state’s economy.
“Surely, given the Premier’s experience in Treasury, the implications of the LPI sale should send off alarm bells,” said the union’s general secretary Stewart Little.
The government and its sale adviser JP Morgan have opened the second round of bidding. It hopes the lease of LPI will yield as much as $2 billion, so that it can fund its sports stadium package.
According to the Australian Financial Review last week, the consortiums – Macquarie’s MIRA with Link, Borealis with its portfolio company Teranet and Computershare and the Hastings Funds Management-led consortium – have been reassured the government remains committed to the process.
Other hopefuls include Affinity Equity Partners and The Carlyle Group.
It’s understood representatives of each bidder will be taking guided tours of LPI and be given the chance to ask further questions about the asset this week and next.
Mr Perrottet became the deputy leader of the NSW Liberal Party on Monday, serving under Premier Gladys Berejiklian. He is expected to grab the Treasury portfolio.
“What I’m focused on is what works and I think if you look at the work we’ve done in finance, sure sometimes we’ve gone down a privatisation path, other times we haven’t,” he said.
“For example our workers comp reforms with icare, where we’ve established an organisation within government, with a commercial mind and a social heart,” he continued.
“And I think what’s important in politics and good government is that you focus on the end result, and focus on the outcome, and you look at who’s best placed to provide that service”.
This story Administrator ready to work first appeared on Nanjing Night Net.