Media Release

KAP Leader and Federal Member for Kennedy Bob Katter is today putting in the house an amendment to the Asset Recycling Fund Bill 2014, which provides $5 billion in financial incentives to the State Governments to sell off the people’s assets.

Mr Katter who is opposed to the sale of states assets is supporting an amendment to re-name the Asset Recycling Fund to the Imposing Privatisation Bill 2014 to better reflect the intention for the legislation.

“By selling off our assets we will see a foreign corporation able to tax and bleed the people of Australia into poverty whist they grow rich.

“The Townsville Port (in their annual report) recorded a $38.5m net profit, Gladstone Port : $73.4 m net profit, Mt Isa to Townsville Railway $449m net profit, Sunwater $20.9m net profit, this totals a combined net profit of $581.8m net profit per year, generating up to $3 billion in profits over five years.

“When you corporatise electricity, water, and basic services, you are giving that company the right to tax you whatever they like. Clearly you can see this in the electricity industry. The price of household electricity in Queensland, prior to corporatisation in 2005 was $859 per year – in December 2013 it is $2107, it is now $2423 and in the very near future it will rise again by 13.6 per cent,” Mr Katter said.

“We are supporting an amendment to rename the bill because it is currently deceitful and misleading. The LNP state Government will use the excuse of the of the Federal Government’s $5 billion which will only net the Qld Government $51,000 million over five years.

"They will spend this money on whirly gigs, pleasure domes, tunnels and fly over’s, but once the money is spent and the income from the assets are no longer – what will the Government do then?" Mr Katter said.

Mr Katter argues it is very short sighted to sell off the people’s assets for a quick buck.

“This proposal will strangle economic growth in North Qld. No-one is going to open a mine in North Qld when there is literally no cap in port charges, electricity costs, railway charges and water fees.

"The proposition is preposterous and already the people are working out how to avoid the Port of Townsville – What was a multi-use facility will now be a money making machine,” Mr Katter said.

Mr Katter believes the Qld Government is out of touch and has ‘Tunnel Vision’ for the allocation of the State Budget and for the sale of the ‘people’s assets’.

Mr Katter will be voting against this bill and hopes that other parliamentary colleagues will join him to protect the state's assets.