Critical CopperString project to be sold off by LNP government
Despite all the rhetoric and the hand flapping and 'we have no plans for privatisation', the LNP have taken less than six months to revert to business as usual. According to the Electrical Trades Union (ETU) responding to the state government's announcement re: privatising the critical Copperstring 2032 project.
"The news that the critical multi-billion dollar CopperString 2032 infrastructure project will be sold off, handed up to private investors should send shockwaves through Queensland. At a time when federal politicians of all persuasions are seeking to 'buy back' critical infrastructure like the Darwin Port, the LNP in Queensland is doing the opposite." ETU state secretary Peter Ong said.
"The privatisation of transmission infrastructure, or 'the poles and wires,' is the dumbest privatisation of all. It is purely a philosophical decision and will ultimately cost Queenslanders dearly."
"Transmission is a regulated asset with guaranteed revenues set by the regulator, which means there would be guaranteed returns for Queenslanders if we retained ownership. Once sold off, it becomes merely a handout to greedy corporations, while Queenslanders miss out."
The ETU also criticised the calculations presented by the government.
"Similar to their discredited claim of a 30% premium on BPIC construction sites, or their allegations of cost overruns in rail and hospital projects, the LNP fabricates figures from thin air. They artificially inflate project scopes and costs to support their creative accounting. This time, it's a double blow for Queenslanders; not only do we miss out on returns from our assets when they are sold off, but we also end up subsidising power infrastructure for wealthy corporations, many of which are foreign-owned and pay minimal, if any, taxes in Australia. It truly is a reverse Robin Hood scenario."
"If they are aware of cost overruns, why aren't they holding Powerlink accountable instead of rushing off to privatising this crucial project?"
The government's statement includes the following sentence:
"Crisafulli Government to leverage QIC infrastructure expertise to save CopperString and introduce private sector investment."
"We know from history that privatisation of critical infrastructure and essential services fail, just look at the state of Telstra, we know once the private sector has their claws into such a critical infrastructure project, they will write their own ticket and do what private enterprise does, make profit. Privatisation fixes nothing." Mr Ong said.
Mr Ong said the government has questions to answer about why they did not take their privatisation plans to the 2024 election where the Queensland public would have had the chance to vote on such an important project.
"This is a massive betrayal of Queenslanders who believed there was bi partisan support for public ownership of critical infrastructure and essential services ."
"What is next on the chopping block, what critical infrastructure and essential services will the government sell off next, that's the question Queenslanders will be asking?"
