❓ Mr. Ripper questions the government about a potential $40 million revenue shortfall following the privatization of AlintaGas, while Mr. Barnett defends the privatization, citing debt reduction and overall economic benefits.
AnsweredQoN 267Legislative Assembly
QuestionView source ↗
I refer to the $26.6m or 38 per cent increase in the earnings of AlintaGas before interest, taxation and depreciation in the past financial year and the forecast that this level of earnings will continue in 2000-01. (1) Do these earnings published in the AlintaGas public offer document not show that the Government has previously underestimated the revenue which will be lost as a result of the AlintaGas privatisation? (2) Is it not the case that if the information in the public document is correct, profit and income tax equivalent payments to the State from AlintaGas would have been nearly $40m a year but for the privatisation? (3) Now that AlintaGas has been privatised, how does the Government propose to fill this annual $40m revenue shortfall? Mr Court interjected. Mr RIPPER: Are you putting it into debt reduction? Mr BARNETT
AnswerView source ↗
(1)-(3) That partly answers the member's question, so he is learning. The $320m of AlintaGas debt is retired. Perhaps later in the week we will find out what will happen to debt reduction and expenditure on other projects. That is a matter for the Government as a whole. We looked at this matter very carefully. One of the first tasks of Deutsche Bank was to estimate the net present value of AlintaGas through retention versus privatisation. Clearly a privatised AlintaGas was worth more to the State of Western Australia. Mr Ripper: Will you release that report? Mr BARNETT: Yes, I am committed to release the report which will contain full details of that analysis. Mr Ripper: Will you release the Deutsche Bank part of the analysis of options? Mr BARNETT: Yes, there is no secret about that piece of analysis of the present value of AlintaGas. Many people were running around suggesting that we might get $600m from the sale of AlintaGas. There are many vagaries and uncertainties with timing and content in privatisation, but at the end of the day, this privatisation has been extremely successful. As I pointed out before, AlintaGas is still there as a Western Australian business. Mr Ripper: How will you make up the $40m shortfall? Mr BARNETT: How would the member net out from that the savings on debt reduction and the effect of a large net surplus coming into government? The government as a whole is better off as a result of today's privatisation. Unequivocally the people of Western Australia are better off. There is absolutely no doubt about that. At $971m, everyone has won except for the miserable bunch opposite - the Labor Party.
(1) Do these earnings published in the AlintaGas public offer document not show that the Government has previously underestimated the revenue which will be lost as a result of the AlintaGas privatisation? (2) Is it not the case that if the information in the public document is correct, profit and income tax equivalent payments to the State from AlintaGas would have been nearly $40m a year but for the privatisation? (3) Now that AlintaGas has been privatised, how does the Government propose to fill this annual $40m revenue shortfall? Mr Court interjected. Mr RIPPER: Are you putting it into debt reduction? Mr BARNETT replied: (1)-(3) That partly answers the member's question, so he is learning. The $320m of AlintaGas debt is retired. Perhaps later in the week we will find out what will happen to debt reduction and expenditure on other projects. That is a matter for the Government as a whole. We looked at this matter very carefully. One of the first tasks of Deutsche Bank was to estimate the net present value of AlintaGas through retention versus privatisation. Clearly a privatised AlintaGas was worth more to the State of Western Australia. Mr Ripper: Will you release that report? Mr BARNETT: Yes, I am committed to release the report which will contain full details of that analysis. Mr Ripper: Will you release the Deutsche Bank part of the analysis of options? Mr BARNETT: Yes, there is no secret about that piece of analysis of the present value of AlintaGas. Many people were running around suggesting that we might get $600m from the sale of AlintaGas. There are many vagaries and uncertainties with timing and content in privatisation, but at the end of the day, this privatisation has been extremely successful. As I pointed out before, AlintaGas is still there as a Western Australian business. Mr Ripper: How will you make up the $40m shortfall? Mr BARNETT: How would the member net out from that the savings on debt reduction and the effect of a large net surplus coming into government? The government as a whole is better off as a result of today's privatisation. Unequivocally the people of Western Australia are better off. There is absolutely no doubt about that. At $971m, everyone has won except for the miserable bunch opposite - the Labor Party.
(2) Is it not the case that if the information in the public document is correct, profit and income tax equivalent payments to the State from AlintaGas would have been nearly $40m a year but for the privatisation? (3) Now that AlintaGas has been privatised, how does the Government propose to fill this annual $40m revenue shortfall? Mr Court interjected. Mr RIPPER: Are you putting it into debt reduction? Mr BARNETT replied: (1)-(3) That partly answers the member's question, so he is learning. The $320m of AlintaGas debt is retired. Perhaps later in the week we will find out what will happen to debt reduction and expenditure on other projects. That is a matter for the Government as a whole. We looked at this matter very carefully. One of the first tasks of Deutsche Bank was to estimate the net present value of AlintaGas through retention versus privatisation. Clearly a privatised AlintaGas was worth more to the State of Western Australia. Mr Ripper: Will you release that report? Mr BARNETT: Yes, I am committed to release the report which will contain full details of that analysis. Mr Ripper: Will you release the Deutsche Bank part of the analysis of options? Mr BARNETT: Yes, there is no secret about that piece of analysis of the present value of AlintaGas. Many people were running around suggesting that we might get $600m from the sale of AlintaGas. There are many vagaries and uncertainties with timing and content in privatisation, but at the end of the day, this privatisation has been extremely successful. As I pointed out before, AlintaGas is still there as a Western Australian business. Mr Ripper: How will you make up the $40m shortfall? Mr BARNETT: How would the member net out from that the savings on debt reduction and the effect of a large net surplus coming into government? The government as a whole is better off as a result of today's privatisation. Unequivocally the people of Western Australia are better off. There is absolutely no doubt about that. At $971m, everyone has won except for the miserable bunch opposite - the Labor Party.
(3) Now that AlintaGas has been privatised, how does the Government propose to fill this annual $40m revenue shortfall? Mr Court interjected. Mr RIPPER: Are you putting it into debt reduction? Mr BARNETT replied: (1)-(3) That partly answers the member's question, so he is learning. The $320m of AlintaGas debt is retired. Perhaps later in the week we will find out what will happen to debt reduction and expenditure on other projects. That is a matter for the Government as a whole. We looked at this matter very carefully. One of the first tasks of Deutsche Bank was to estimate the net present value of AlintaGas through retention versus privatisation. Clearly a privatised AlintaGas was worth more to the State of Western Australia. Mr Ripper: Will you release that report? Mr BARNETT: Yes, I am committed to release the report which will contain full details of that analysis. Mr Ripper: Will you release the Deutsche Bank part of the analysis of options? Mr BARNETT: Yes, there is no secret about that piece of analysis of the present value of AlintaGas. Many people were running around suggesting that we might get $600m from the sale of AlintaGas. There are many vagaries and uncertainties with timing and content in privatisation, but at the end of the day, this privatisation has been extremely successful. As I pointed out before, AlintaGas is still there as a Western Australian business. Mr Ripper: How will you make up the $40m shortfall? Mr BARNETT: How would the member net out from that the savings on debt reduction and the effect of a large net surplus coming into government? The government as a whole is better off as a result of today's privatisation. Unequivocally the people of Western Australia are better off. There is absolutely no doubt about that. At $971m, everyone has won except for the miserable bunch opposite - the Labor Party.
Mr Court interjected. Mr RIPPER: Are you putting it into debt reduction? Mr BARNETT replied: (1)-(3) That partly answers the member's question, so he is learning. The $320m of AlintaGas debt is retired. Perhaps later in the week we will find out what will happen to debt reduction and expenditure on other projects. That is a matter for the Government as a whole. We looked at this matter very carefully. One of the first tasks of Deutsche Bank was to estimate the net present value of AlintaGas through retention versus privatisation. Clearly a privatised AlintaGas was worth more to the State of Western Australia. Mr Ripper: Will you release that report? Mr BARNETT: Yes, I am committed to release the report which will contain full details of that analysis. Mr Ripper: Will you release the Deutsche Bank part of the analysis of options? Mr BARNETT: Yes, there is no secret about that piece of analysis of the present value of AlintaGas. Many people were running around suggesting that we might get $600m from the sale of AlintaGas. There are many vagaries and uncertainties with timing and content in privatisation, but at the end of the day, this privatisation has been extremely successful. As I pointed out before, AlintaGas is still there as a Western Australian business. Mr Ripper: How will you make up the $40m shortfall? Mr BARNETT: How would the member net out from that the savings on debt reduction and the effect of a large net surplus coming into government? The government as a whole is better off as a result of today's privatisation. Unequivocally the people of Western Australia are better off. There is absolutely no doubt about that. At $971m, everyone has won except for the miserable bunch opposite - the Labor Party.
Mr RIPPER: Are you putting it into debt reduction? Mr BARNETT replied: (1)-(3) That partly answers the member's question, so he is learning. The $320m of AlintaGas debt is retired. Perhaps later in the week we will find out what will happen to debt reduction and expenditure on other projects. That is a matter for the Government as a whole. We looked at this matter very carefully. One of the first tasks of Deutsche Bank was to estimate the net present value of AlintaGas through retention versus privatisation. Clearly a privatised AlintaGas was worth more to the State of Western Australia. Mr Ripper: Will you release that report? Mr BARNETT: Yes, I am committed to release the report which will contain full details of that analysis. Mr Ripper: Will you release the Deutsche Bank part of the analysis of options? Mr BARNETT: Yes, there is no secret about that piece of analysis of the present value of AlintaGas. Many people were running around suggesting that we might get $600m from the sale of AlintaGas. There are many vagaries and uncertainties with timing and content in privatisation, but at the end of the day, this privatisation has been extremely successful. As I pointed out before, AlintaGas is still there as a Western Australian business. Mr Ripper: How will you make up the $40m shortfall? Mr BARNETT: How would the member net out from that the savings on debt reduction and the effect of a large net surplus coming into government? The government as a whole is better off as a result of today's privatisation. Unequivocally the people of Western Australia are better off. There is absolutely no doubt about that. At $971m, everyone has won except for the miserable bunch opposite - the Labor Party.
Mr BARNETT replied: (1)-(3) That partly answers the member's question, so he is learning. The $320m of AlintaGas debt is retired. Perhaps later in the week we will find out what will happen to debt reduction and expenditure on other projects. That is a matter for the Government as a whole. We looked at this matter very carefully. One of the first tasks of Deutsche Bank was to estimate the net present value of AlintaGas through retention versus privatisation. Clearly a privatised AlintaGas was worth more to the State of Western Australia. Mr Ripper: Will you release that report? Mr BARNETT: Yes, I am committed to release the report which will contain full details of that analysis. Mr Ripper: Will you release the Deutsche Bank part of the analysis of options? Mr BARNETT: Yes, there is no secret about that piece of analysis of the present value of AlintaGas. Many people were running around suggesting that we might get $600m from the sale of AlintaGas. There are many vagaries and uncertainties with timing and content in privatisation, but at the end of the day, this privatisation has been extremely successful. As I pointed out before, AlintaGas is still there as a Western Australian business. Mr Ripper: How will you make up the $40m shortfall? Mr BARNETT: How would the member net out from that the savings on debt reduction and the effect of a large net surplus coming into government? The government as a whole is better off as a result of today's privatisation. Unequivocally the people of Western Australia are better off. There is absolutely no doubt about that. At $971m, everyone has won except for the miserable bunch opposite - the Labor Party.
(1)-(3) That partly answers the member's question, so he is learning. The $320m of AlintaGas debt is retired. Perhaps later in the week we will find out what will happen to debt reduction and expenditure on other projects. That is a matter for the Government as a whole. We looked at this matter very carefully. One of the first tasks of Deutsche Bank was to estimate the net present value of AlintaGas through retention versus privatisation. Clearly a privatised AlintaGas was worth more to the State of Western Australia. Mr Ripper: Will you release that report? Mr BARNETT: Yes, I am committed to release the report which will contain full details of that analysis. Mr Ripper: Will you release the Deutsche Bank part of the analysis of options? Mr BARNETT: Yes, there is no secret about that piece of analysis of the present value of AlintaGas. Many people were running around suggesting that we might get $600m from the sale of AlintaGas. There are many vagaries and uncertainties with timing and content in privatisation, but at the end of the day, this privatisation has been extremely successful. As I pointed out before, AlintaGas is still there as a Western Australian business. Mr Ripper: How will you make up the $40m shortfall? Mr BARNETT: How would the member net out from that the savings on debt reduction and the effect of a large net surplus coming into government? The government as a whole is better off as a result of today's privatisation. Unequivocally the people of Western Australia are better off. There is absolutely no doubt about that. At $971m, everyone has won except for the miserable bunch opposite - the Labor Party.
Mr Ripper: Will you release that report? Mr BARNETT: Yes, I am committed to release the report which will contain full details of that analysis. Mr Ripper: Will you release the Deutsche Bank part of the analysis of options? Mr BARNETT: Yes, there is no secret about that piece of analysis of the present value of AlintaGas. Many people were running around suggesting that we might get $600m from the sale of AlintaGas. There are many vagaries and uncertainties with timing and content in privatisation, but at the end of the day, this privatisation has been extremely successful. As I pointed out before, AlintaGas is still there as a Western Australian business. Mr Ripper: How will you make up the $40m shortfall? Mr BARNETT: How would the member net out from that the savings on debt reduction and the effect of a large net surplus coming into government? The government as a whole is better off as a result of today's privatisation. Unequivocally the people of Western Australia are better off. There is absolutely no doubt about that. At $971m, everyone has won except for the miserable bunch opposite - the Labor Party.
Mr BARNETT: Yes, I am committed to release the report which will contain full details of that analysis. Mr Ripper: Will you release the Deutsche Bank part of the analysis of options? Mr BARNETT: Yes, there is no secret about that piece of analysis of the present value of AlintaGas. Many people were running around suggesting that we might get $600m from the sale of AlintaGas. There are many vagaries and uncertainties with timing and content in privatisation, but at the end of the day, this privatisation has been extremely successful. As I pointed out before, AlintaGas is still there as a Western Australian business. Mr Ripper: How will you make up the $40m shortfall? Mr BARNETT: How would the member net out from that the savings on debt reduction and the effect of a large net surplus coming into government? The government as a whole is better off as a result of today's privatisation. Unequivocally the people of Western Australia are better off. There is absolutely no doubt about that. At $971m, everyone has won except for the miserable bunch opposite - the Labor Party.
Mr Ripper: Will you release the Deutsche Bank part of the analysis of options? Mr BARNETT: Yes, there is no secret about that piece of analysis of the present value of AlintaGas. Many people were running around suggesting that we might get $600m from the sale of AlintaGas. There are many vagaries and uncertainties with timing and content in privatisation, but at the end of the day, this privatisation has been extremely successful. As I pointed out before, AlintaGas is still there as a Western Australian business. Mr Ripper: How will you make up the $40m shortfall? Mr BARNETT: How would the member net out from that the savings on debt reduction and the effect of a large net surplus coming into government? The government as a whole is better off as a result of today's privatisation. Unequivocally the people of Western Australia are better off. There is absolutely no doubt about that. At $971m, everyone has won except for the miserable bunch opposite - the Labor Party.
Mr BARNETT: Yes, there is no secret about that piece of analysis of the present value of AlintaGas. Many people were running around suggesting that we might get $600m from the sale of AlintaGas. There are many vagaries and uncertainties with timing and content in privatisation, but at the end of the day, this privatisation has been extremely successful. As I pointed out before, AlintaGas is still there as a Western Australian business. Mr Ripper: How will you make up the $40m shortfall? Mr BARNETT: How would the member net out from that the savings on debt reduction and the effect of a large net surplus coming into government? The government as a whole is better off as a result of today's privatisation. Unequivocally the people of Western Australia are better off. There is absolutely no doubt about that. At $971m, everyone has won except for the miserable bunch opposite - the Labor Party.
Mr Ripper: How will you make up the $40m shortfall? Mr BARNETT: How would the member net out from that the savings on debt reduction and the effect of a large net surplus coming into government? The government as a whole is better off as a result of today's privatisation. Unequivocally the people of Western Australia are better off. There is absolutely no doubt about that. At $971m, everyone has won except for the miserable bunch opposite - the Labor Party.
Mr BARNETT: How would the member net out from that the savings on debt reduction and the effect of a large net surplus coming into government? The government as a whole is better off as a result of today's privatisation. Unequivocally the people of Western Australia are better off. There is absolutely no doubt about that. At $971m, everyone has won except for the miserable bunch opposite - the Labor Party.
(1) Do these earnings published in the AlintaGas public offer document not show that the Government has previously underestimated the revenue which will be lost as a result of the AlintaGas privatisation? (2) Is it not the case that if the information in the public document is correct, profit and income tax equivalent payments to the State from AlintaGas would have been nearly $40m a year but for the privatisation? (3) Now that AlintaGas has been privatised, how does the Government propose to fill this annual $40m revenue shortfall? Mr Court interjected. Mr RIPPER: Are you putting it into debt reduction? Mr BARNETT replied: (1)-(3) That partly answers the member's question, so he is learning. The $320m of AlintaGas debt is retired. Perhaps later in the week we will find out what will happen to debt reduction and expenditure on other projects. That is a matter for the Government as a whole. We looked at this matter very carefully. One of the first tasks of Deutsche Bank was to estimate the net present value of AlintaGas through retention versus privatisation. Clearly a privatised AlintaGas was worth more to the State of Western Australia. Mr Ripper: Will you release that report? Mr BARNETT: Yes, I am committed to release the report which will contain full details of that analysis. Mr Ripper: Will you release the Deutsche Bank part of the analysis of options? Mr BARNETT: Yes, there is no secret about that piece of analysis of the present value of AlintaGas. Many people were running around suggesting that we might get $600m from the sale of AlintaGas. There are many vagaries and uncertainties with timing and content in privatisation, but at the end of the day, this privatisation has been extremely successful. As I pointed out before, AlintaGas is still there as a Western Australian business. Mr Ripper: How will you make up the $40m shortfall? Mr BARNETT: How would the member net out from that the savings on debt reduction and the effect of a large net surplus coming into government? The government as a whole is better off as a result of today's privatisation. Unequivocally the people of Western Australia are better off. There is absolutely no doubt about that. At $971m, everyone has won except for the miserable bunch opposite - the Labor Party.
(2) Is it not the case that if the information in the public document is correct, profit and income tax equivalent payments to the State from AlintaGas would have been nearly $40m a year but for the privatisation? (3) Now that AlintaGas has been privatised, how does the Government propose to fill this annual $40m revenue shortfall? Mr Court interjected. Mr RIPPER: Are you putting it into debt reduction? Mr BARNETT replied: (1)-(3) That partly answers the member's question, so he is learning. The $320m of AlintaGas debt is retired. Perhaps later in the week we will find out what will happen to debt reduction and expenditure on other projects. That is a matter for the Government as a whole. We looked at this matter very carefully. One of the first tasks of Deutsche Bank was to estimate the net present value of AlintaGas through retention versus privatisation. Clearly a privatised AlintaGas was worth more to the State of Western Australia. Mr Ripper: Will you release that report? Mr BARNETT: Yes, I am committed to release the report which will contain full details of that analysis. Mr Ripper: Will you release the Deutsche Bank part of the analysis of options? Mr BARNETT: Yes, there is no secret about that piece of analysis of the present value of AlintaGas. Many people were running around suggesting that we might get $600m from the sale of AlintaGas. There are many vagaries and uncertainties with timing and content in privatisation, but at the end of the day, this privatisation has been extremely successful. As I pointed out before, AlintaGas is still there as a Western Australian business. Mr Ripper: How will you make up the $40m shortfall? Mr BARNETT: How would the member net out from that the savings on debt reduction and the effect of a large net surplus coming into government? The government as a whole is better off as a result of today's privatisation. Unequivocally the people of Western Australia are better off. There is absolutely no doubt about that. At $971m, everyone has won except for the miserable bunch opposite - the Labor Party.
(3) Now that AlintaGas has been privatised, how does the Government propose to fill this annual $40m revenue shortfall? Mr Court interjected. Mr RIPPER: Are you putting it into debt reduction? Mr BARNETT replied: (1)-(3) That partly answers the member's question, so he is learning. The $320m of AlintaGas debt is retired. Perhaps later in the week we will find out what will happen to debt reduction and expenditure on other projects. That is a matter for the Government as a whole. We looked at this matter very carefully. One of the first tasks of Deutsche Bank was to estimate the net present value of AlintaGas through retention versus privatisation. Clearly a privatised AlintaGas was worth more to the State of Western Australia. Mr Ripper: Will you release that report? Mr BARNETT: Yes, I am committed to release the report which will contain full details of that analysis. Mr Ripper: Will you release the Deutsche Bank part of the analysis of options? Mr BARNETT: Yes, there is no secret about that piece of analysis of the present value of AlintaGas. Many people were running around suggesting that we might get $600m from the sale of AlintaGas. There are many vagaries and uncertainties with timing and content in privatisation, but at the end of the day, this privatisation has been extremely successful. As I pointed out before, AlintaGas is still there as a Western Australian business. Mr Ripper: How will you make up the $40m shortfall? Mr BARNETT: How would the member net out from that the savings on debt reduction and the effect of a large net surplus coming into government? The government as a whole is better off as a result of today's privatisation. Unequivocally the people of Western Australia are better off. There is absolutely no doubt about that. At $971m, everyone has won except for the miserable bunch opposite - the Labor Party.
Mr Court interjected. Mr RIPPER: Are you putting it into debt reduction? Mr BARNETT replied: (1)-(3) That partly answers the member's question, so he is learning. The $320m of AlintaGas debt is retired. Perhaps later in the week we will find out what will happen to debt reduction and expenditure on other projects. That is a matter for the Government as a whole. We looked at this matter very carefully. One of the first tasks of Deutsche Bank was to estimate the net present value of AlintaGas through retention versus privatisation. Clearly a privatised AlintaGas was worth more to the State of Western Australia. Mr Ripper: Will you release that report? Mr BARNETT: Yes, I am committed to release the report which will contain full details of that analysis. Mr Ripper: Will you release the Deutsche Bank part of the analysis of options? Mr BARNETT: Yes, there is no secret about that piece of analysis of the present value of AlintaGas. Many people were running around suggesting that we might get $600m from the sale of AlintaGas. There are many vagaries and uncertainties with timing and content in privatisation, but at the end of the day, this privatisation has been extremely successful. As I pointed out before, AlintaGas is still there as a Western Australian business. Mr Ripper: How will you make up the $40m shortfall? Mr BARNETT: How would the member net out from that the savings on debt reduction and the effect of a large net surplus coming into government? The government as a whole is better off as a result of today's privatisation. Unequivocally the people of Western Australia are better off. There is absolutely no doubt about that. At $971m, everyone has won except for the miserable bunch opposite - the Labor Party.
Mr RIPPER: Are you putting it into debt reduction? Mr BARNETT replied: (1)-(3) That partly answers the member's question, so he is learning. The $320m of AlintaGas debt is retired. Perhaps later in the week we will find out what will happen to debt reduction and expenditure on other projects. That is a matter for the Government as a whole. We looked at this matter very carefully. One of the first tasks of Deutsche Bank was to estimate the net present value of AlintaGas through retention versus privatisation. Clearly a privatised AlintaGas was worth more to the State of Western Australia. Mr Ripper: Will you release that report? Mr BARNETT: Yes, I am committed to release the report which will contain full details of that analysis. Mr Ripper: Will you release the Deutsche Bank part of the analysis of options? Mr BARNETT: Yes, there is no secret about that piece of analysis of the present value of AlintaGas. Many people were running around suggesting that we might get $600m from the sale of AlintaGas. There are many vagaries and uncertainties with timing and content in privatisation, but at the end of the day, this privatisation has been extremely successful. As I pointed out before, AlintaGas is still there as a Western Australian business. Mr Ripper: How will you make up the $40m shortfall? Mr BARNETT: How would the member net out from that the savings on debt reduction and the effect of a large net surplus coming into government? The government as a whole is better off as a result of today's privatisation. Unequivocally the people of Western Australia are better off. There is absolutely no doubt about that. At $971m, everyone has won except for the miserable bunch opposite - the Labor Party.
Mr BARNETT replied: (1)-(3) That partly answers the member's question, so he is learning. The $320m of AlintaGas debt is retired. Perhaps later in the week we will find out what will happen to debt reduction and expenditure on other projects. That is a matter for the Government as a whole. We looked at this matter very carefully. One of the first tasks of Deutsche Bank was to estimate the net present value of AlintaGas through retention versus privatisation. Clearly a privatised AlintaGas was worth more to the State of Western Australia. Mr Ripper: Will you release that report? Mr BARNETT: Yes, I am committed to release the report which will contain full details of that analysis. Mr Ripper: Will you release the Deutsche Bank part of the analysis of options? Mr BARNETT: Yes, there is no secret about that piece of analysis of the present value of AlintaGas. Many people were running around suggesting that we might get $600m from the sale of AlintaGas. There are many vagaries and uncertainties with timing and content in privatisation, but at the end of the day, this privatisation has been extremely successful. As I pointed out before, AlintaGas is still there as a Western Australian business. Mr Ripper: How will you make up the $40m shortfall? Mr BARNETT: How would the member net out from that the savings on debt reduction and the effect of a large net surplus coming into government? The government as a whole is better off as a result of today's privatisation. Unequivocally the people of Western Australia are better off. There is absolutely no doubt about that. At $971m, everyone has won except for the miserable bunch opposite - the Labor Party.
(1)-(3) That partly answers the member's question, so he is learning. The $320m of AlintaGas debt is retired. Perhaps later in the week we will find out what will happen to debt reduction and expenditure on other projects. That is a matter for the Government as a whole. We looked at this matter very carefully. One of the first tasks of Deutsche Bank was to estimate the net present value of AlintaGas through retention versus privatisation. Clearly a privatised AlintaGas was worth more to the State of Western Australia. Mr Ripper: Will you release that report? Mr BARNETT: Yes, I am committed to release the report which will contain full details of that analysis. Mr Ripper: Will you release the Deutsche Bank part of the analysis of options? Mr BARNETT: Yes, there is no secret about that piece of analysis of the present value of AlintaGas. Many people were running around suggesting that we might get $600m from the sale of AlintaGas. There are many vagaries and uncertainties with timing and content in privatisation, but at the end of the day, this privatisation has been extremely successful. As I pointed out before, AlintaGas is still there as a Western Australian business. Mr Ripper: How will you make up the $40m shortfall? Mr BARNETT: How would the member net out from that the savings on debt reduction and the effect of a large net surplus coming into government? The government as a whole is better off as a result of today's privatisation. Unequivocally the people of Western Australia are better off. There is absolutely no doubt about that. At $971m, everyone has won except for the miserable bunch opposite - the Labor Party.
Mr Ripper: Will you release that report? Mr BARNETT: Yes, I am committed to release the report which will contain full details of that analysis. Mr Ripper: Will you release the Deutsche Bank part of the analysis of options? Mr BARNETT: Yes, there is no secret about that piece of analysis of the present value of AlintaGas. Many people were running around suggesting that we might get $600m from the sale of AlintaGas. There are many vagaries and uncertainties with timing and content in privatisation, but at the end of the day, this privatisation has been extremely successful. As I pointed out before, AlintaGas is still there as a Western Australian business. Mr Ripper: How will you make up the $40m shortfall? Mr BARNETT: How would the member net out from that the savings on debt reduction and the effect of a large net surplus coming into government? The government as a whole is better off as a result of today's privatisation. Unequivocally the people of Western Australia are better off. There is absolutely no doubt about that. At $971m, everyone has won except for the miserable bunch opposite - the Labor Party.
Mr BARNETT: Yes, I am committed to release the report which will contain full details of that analysis. Mr Ripper: Will you release the Deutsche Bank part of the analysis of options? Mr BARNETT: Yes, there is no secret about that piece of analysis of the present value of AlintaGas. Many people were running around suggesting that we might get $600m from the sale of AlintaGas. There are many vagaries and uncertainties with timing and content in privatisation, but at the end of the day, this privatisation has been extremely successful. As I pointed out before, AlintaGas is still there as a Western Australian business. Mr Ripper: How will you make up the $40m shortfall? Mr BARNETT: How would the member net out from that the savings on debt reduction and the effect of a large net surplus coming into government? The government as a whole is better off as a result of today's privatisation. Unequivocally the people of Western Australia are better off. There is absolutely no doubt about that. At $971m, everyone has won except for the miserable bunch opposite - the Labor Party.
Mr Ripper: Will you release the Deutsche Bank part of the analysis of options? Mr BARNETT: Yes, there is no secret about that piece of analysis of the present value of AlintaGas. Many people were running around suggesting that we might get $600m from the sale of AlintaGas. There are many vagaries and uncertainties with timing and content in privatisation, but at the end of the day, this privatisation has been extremely successful. As I pointed out before, AlintaGas is still there as a Western Australian business. Mr Ripper: How will you make up the $40m shortfall? Mr BARNETT: How would the member net out from that the savings on debt reduction and the effect of a large net surplus coming into government? The government as a whole is better off as a result of today's privatisation. Unequivocally the people of Western Australia are better off. There is absolutely no doubt about that. At $971m, everyone has won except for the miserable bunch opposite - the Labor Party.
Mr BARNETT: Yes, there is no secret about that piece of analysis of the present value of AlintaGas. Many people were running around suggesting that we might get $600m from the sale of AlintaGas. There are many vagaries and uncertainties with timing and content in privatisation, but at the end of the day, this privatisation has been extremely successful. As I pointed out before, AlintaGas is still there as a Western Australian business. Mr Ripper: How will you make up the $40m shortfall? Mr BARNETT: How would the member net out from that the savings on debt reduction and the effect of a large net surplus coming into government? The government as a whole is better off as a result of today's privatisation. Unequivocally the people of Western Australia are better off. There is absolutely no doubt about that. At $971m, everyone has won except for the miserable bunch opposite - the Labor Party.
Mr Ripper: How will you make up the $40m shortfall? Mr BARNETT: How would the member net out from that the savings on debt reduction and the effect of a large net surplus coming into government? The government as a whole is better off as a result of today's privatisation. Unequivocally the people of Western Australia are better off. There is absolutely no doubt about that. At $971m, everyone has won except for the miserable bunch opposite - the Labor Party.
Mr BARNETT: How would the member net out from that the savings on debt reduction and the effect of a large net surplus coming into government? The government as a whole is better off as a result of today's privatisation. Unequivocally the people of Western Australia are better off. There is absolutely no doubt about that. At $971m, everyone has won except for the miserable bunch opposite - the Labor Party.
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