Macquarie Network ::: 2GB | 2CH | LIVENEWS | STREET CORNER | RUGBYLEAGUELIVE | WHAT CAREER | AMAZING AUSTRALIANS :::
Friday, 21 November 2008

NSW Lotteries sell-off to fill budget black hole

13/10/2008 8:30:00 AM.  | Victoria Owens
New South Wales lotteries could be the government's secret weapon to boosting the state's cash-strapped budget.

It’s no secret the state government has wracked up a billion dollar budget black hole.

But what most people don't know is that it has an emergency plan to fill the void if need be, by selling off NSW Lotteries.

The government stands to pocket around a billion dollars from the sale, the exact amount needed to keep the state budget from breaking point.

A senior labor figure has revealed they're actively considering the sale, after restricting NSW lotteries gaming licence to a year.

It has sparked mounting fears among lotto staff who are seeking to immediately meet with the public service association to discuss the possible sell off.

COMMENTS

Monday, 13 October 2008

If one sees a private company sell an income earning asset, one rightly concludes that they are in deep trouble. I cannot see why government doing the same is any different. NSW already has sold off Freight Rail, now earning money for somebody else (was Patricks, now Toll I believe). Where is the lasting benefit from the sale ? Nowhere to be seen. Where is the continuing income - off with the purchaser. Same with GIO, same with Telstra, etc. If it makes money, that is no reason to sell it

Posted by: Mick S, Central Coast

 
 

YOUR SAY




 


 

500 characters maximum. 500 characters left.


 

* Required field

 
Register to receive daily news and sports details

YOUR SAY

Obviously John you believe the cry of suicide without the end result of death, isn't something to be taken seriously. Sadly you would be very... susan lawe, wherever on Teen commits suicide for internet audience

Open, honest and accountable government!!!!!!! What a joke. Surely there is not reason a dedacted form can't be released immediately.... Marian Rigney, Brisbane on Oppn demands govt release Haneef report

I am proud of membership of each and every organisation of which I am a member. Exposure of my membership publicly, even broadcast on the... darren carrow, brisbane on We're not racists, Australian fascists say

Hello? Damien Leith having a first self-written album debut at Number One, and another album of covers at Number 2 "fading into obscurity". As for... Chris Radke, South East Qld on The 'Australian Idol' journey: a guaranteed road to ruin

Freedom of speech to be mitigated to prevent hate speech. The only people who deny this are those who would spread hate speech. As for... darren carrow, brisbane on We're not racists, Australian fascists say