A potential liability of up to $4.3 billion is contained in previously secret deals that will be revealed by NSW Treasurer Daniel Mookhey on Thursday.
The sale of the state’s ports has left taxpayers with a potential liability of between $600 million and $4.3 billion under a deal struck by former treasurer Mike Baird, which means the government is liable for compensation to NSW Ports if Newcastle develops a container terminal.
Other deeds that will become publicly available include the sale of electricity networks TransGrid, Ausgrid and Endeavour and the privatisation of AGL and Origin power stations. NSW Treasurer Daniel Mookhey said under the former government’s ports deal, the state would be liable to compensate NSW Ports if Newcastle developed a competing container terminal, which would be a move to diversify the world’s largest coal export port away from fossil fuels.
Last year, Mookhey wrote to the port owners requesting consent to release the contracts, arguing that the public should know the details of the sales and whether it was good value for taxpayers.
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