❓ Mr. McGowan questions the Treasurer about the Department of Housing's purchase of Goldmaster Enterprises, highlighting a potential loss of value. The Treasurer deflects, questioning the accuracy of the information and stating he will investigate.
AnsweredQoN 221Legislative Assembly
QuestionView source ↗
DEPARTMENT OF HOUSING — GOLDMASTER
ENTERPRISES PTY LTD
221. Mr M. McGOWAN to the Treasurer:
I refer to answers in the upper
house yesterday confirming that the Department of Housing purchased 88 per cent
of a private company called Goldmaster Enterprises at a cost of over $37 million.
I refer to answers to questions in the upper house also confirming the fact
that Goldmaster is now worth only $20.2 million while it owes the state $13.4 million
in loans.
(1) What are the government's
rules about the government buying private companies?
(2) What is the
state's total liability in regard to Housing's ownership in
this private company, and why did the government buy this private company?
(3) Can the
Treasurer confirm that the company is now worth approximately $10 million less
than the Department of Housing paid for it?
ENTERPRISES PTY LTD
221. Mr M. McGOWAN to the Treasurer:
I refer to answers in the upper
house yesterday confirming that the Department of Housing purchased 88 per cent
of a private company called Goldmaster Enterprises at a cost of over $37 million.
I refer to answers to questions in the upper house also confirming the fact
that Goldmaster is now worth only $20.2 million while it owes the state $13.4 million
in loans.
(1) What are the government's
rules about the government buying private companies?
(2) What is the
state's total liability in regard to Housing's ownership in
this private company, and why did the government buy this private company?
(3) Can the
Treasurer confirm that the company is now worth approximately $10 million less
than the Department of Housing paid for it?
AnswerView source ↗
I thank the member for the question.
(1)–(3) First,
given the exercises of the last few days, I actually do not believe anything
the Leader of the Opposition says. I will have to check everything he says in
his questions. I am therefore not going to answer any of those questions. All I
can say is that I will look into the issue. I am not the Minister for Housing.
The Department of Housing, as we discussed last week, enters into a range of
arrangements in many different ways. Those arrangements are decided by the
director general of Housing and the responsible minister; they do not go to cabinet.
I do not necessarily overwrite or approve them or otherwise. In the details
provided by the Leader of the Opposition, I do not know anything about the
arrangement and, most importantly, I do not believe a thing he says. It might
be true but I do not know, so I will have to check.
(1)–(3) First,
given the exercises of the last few days, I actually do not believe anything
the Leader of the Opposition says. I will have to check everything he says in
his questions. I am therefore not going to answer any of those questions. All I
can say is that I will look into the issue. I am not the Minister for Housing.
The Department of Housing, as we discussed last week, enters into a range of
arrangements in many different ways. Those arrangements are decided by the
director general of Housing and the responsible minister; they do not go to cabinet.
I do not necessarily overwrite or approve them or otherwise. In the details
provided by the Leader of the Opposition, I do not know anything about the
arrangement and, most importantly, I do not believe a thing he says. It might
be true but I do not know, so I will have to check.
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