As asked in a previous letter to local newspapers, can (Bass MP) Ken Smith and/or (Gippsland South MP) Peter Ryan please answer the question to explain why the result of their investigation into re-finance of Wonthaggi desal plant is now claimed by Mr Ryan, at $24 billion over 28 years, to have resulted in almost 50 per cent increase in annual payment. Previously it was $600 million per year, which amounts to 17 per cent interest, on principal of $3.7 billion, fixed price for turnkey system.
But now it amounts to $860M per year, each and every year. Why is it so?
No wonder our open, transparent and accountable leaders can’t afford to help the people of Shepparton, when they’re exporting this much money to France.
No doubt it seemed sensible, at the time, to sell out to a big corporate, to improve their fortunes, with so much marketing expertise, that it can sell fizzy, sugar water for more money than petrol.
Sooner or later, can we expect our security services to recommend un-privatising some of our essential services, for supply of things like water, food, power, communications, health etc etc?
Or do we stand back, with blind faith that “the meek” shall inherit something or other, while the “free market”, big, transnational corporations acquire more local industry, then declare it can’t “compete”, so close down and import?
It struck me as particularly ironic, quite a few years ago, when this happened so that a country like Australia can’t even manufacture its own fiywire screens anymore!
Bernie McComb, Cowes.