The Chamber of Commerce and Industry WA (CCI) has welcomed reports that the McGowan Government is considering the sale of Landgate.
CCI has long called for the sale of Government assets to pay down debt, generate efficiencies for consumers, boost investment, and regain Western Australia’s AAA credit rating.
CCI Chief Economist Rick Newnham said asset recycling significantly increases the productivity of a state by accelerating infrastructure construction and releasing funds to pay down debt.
“Outside the Government’s well-flagged METRONET, infrastructure spending is lacking in WA over the forward estimates,” Mr Newnham said.
“Recycling assets will allow the Government to pay down debt and invest in new infrastructure that will create jobs and ensure WA’s skilled workforce remains in the state.
“CCI has called on the Government to establish Infrastructure WA to assess long-term infrastructure projects, and to submit more projects to Infrastructure Australia to attract more Commonwealth funding. This will allow business to plan for the future and gives more certainty to the infrastructure priorities for the state.
“CCI encourages the Government to assess the merits of the sale of Landgate and to identify other assets that can be sold to the private sector. This should be the first step in a series of asset sales for WA to start making serious inroads into paying down the state’s debt.”
CCI’s Annual Member Survey confirmed the WA business community strongly supports asset sales in WA.
“Assets identified as having strong support for sale included the TAB and Gloucester Park, with nearly 50 per cent of survey respondents stating they would support their full or partial sale,” Mr Newnham said.