Dodgy ALP ratbags cost NSW $90M

The dodgy ALP ratbags have cost NSW $90 million in lost revenues with their corrupt dealings…and that doesn’t even cover the costs of th investigations, just the lost revenue from mining licences.

Corrupt conduct by the former Labor ministers Eddie Obeid and Ian Macdonald in relation to lucrative mining licences cost the state $90 million in lost revenue, a report has found.

Treasurer Mike Baird revealed the figure during a budget estimates hearing at the NSW Parliament on Thursday morning.

Mr Baird said he had asked Treasury and the Department of Resources and Energy to examine the cost to the budget after findings by the Independent Commission Against Corruption last month.

ICAC found Mr Macdonald and Mr Obeid conspired to rig a tender for a mining exploration licence over land owned by the Obeid family at Mount Penny in the state’s north west.

The commission is due to report its findings on Mr Macdonald’s decision to grant another licence at Doyle’s Creek in the Hunter Valley without tender and against departmental advice to a company chaired by a former union boss, John Maitland.

Mr Baird told the hearing the licences “were effectively given away”.

“Noting that ICAC was not an economic body but was an investigative body, I did ask that Treasury and the department of minerals and resources and energy actually have a look at what the costs were for those actions that were taken,” he said.

“What this report has found is that, if the licences were not issued corruptly or negligently, this state would be $90 million better off. They were the upfront fees that should have been paid in relation to those two licences.”

Mr Baird also said a further $50 million in ongoing annual royalties from the licences have been delayed due to the corruption hearings.

 

 


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As much at home writing editorials as being the subject of them, Cam has won awards, including the Canon Media Award for his work on the Len Brown/Bevan Chuang story. When he’s not creating the news, he tends to be in it, with protagonists using the courts, media and social media to deliver financial as well as death threats.

They say that news is something that someone, somewhere, wants kept quiet. Cam Slater doesn’t do quiet and, as a result, he is a polarising, controversial but highly effective journalist who takes no prisoners.

He is fearless in his pursuit of a story.

Love him or loathe him, you can’t ignore him.

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