Worst ever privatisation sees CCP operate Sydney Water plant

I wrote last week how the NSW Government had ‘jumped the shark’ with rumours circulating that it intended to sell Sydney Water, despite safe drinking water and sewage services being one of the most essential elements of public infrastructure in our society.

In response to the rumoured plan, the Australia Institute (TAI) estimated that privatisation could increase water bills by 59%, adding up to $264 to the average household bill every year; however, this figure would likely increase due to inflation and potential population growth.

Report author Jim Stanford said the sale of Sydney Water would cost NSW an annual average $870 million in revenue from dividends and income tax:

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About the author

Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.