Opposition Fights Against Privatization of Port of Melbourne

Monday / June 29, 2015

Port of MelbourneVictoria is facing a potential multi-billion-dollar hole in the state budget, after the opposition announced that it would oppose the bill to privatize the Port of Melbourne. The planned privatization of the Port of Melbourne has become a political issue, with the state opposition declaring it won’t support enabling legislation in its current form.

The government planned to sell the port to a private sector for about $6 billion, but now the plan is in trouble as the opposition refuses to support privatization of the port. It says the lease term being proposed, of 50 years with a possible 20 year extension, is too long, and the sale plan includes a poison pill section that would prevent the state from investing in a second port at either Hastings or at Bay West.

Treasurer Tim Pallas said that the Government could still sell the port’s lease without legislation if the Coalition refused to support it, by using powers granted under the State Owned Enterprises Act. “We can do it without legislation. We would prefer legislation, but we don’t need it”, he stressed.

SNM Events News Service
Contact Editor: editor@snmevents.com

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