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Question and Answer Tracking Details

137 - Treasurer - TRANSPORT ASSET HOLDING ENTITY

Mookhey, Daniel to the Minister for Finance, and Minister for Employee Relations representing the Treasurer, and Minister for Energy

My question without notice is directed to the Leader of the Government and Minister for Finance and Employee Relations, in his own capacity and in his capacity representing the Treasurer. How much more in interest will New South Wales pay as a result of the Government's decision in December to authorise a $1.1 billion bailout of the Transport Asset Holding Entity [TAHE] using borrowed money?
Original Answer -

The Hon. DAMIEN TUDEHOPE (Minister for Finance, and Minister for Employee Relations) (12:24:18): There we go. We thought that question might arise.

The PRESIDENT: Order! The Minister has the call.

The Hon. DAMIEN TUDEHOPE: It is a policy-free zone on Labor's side of the House. Budget estimates are next week. I am not sure when the Treasurer appears.

The Hon. Daniel Mookhey: On Monday.

The Hon. DAMIEN TUDEHOPE: He appears on Monday, so there is a great opportunity to ask the Treasurer then. I will say that the Auditor-General gave TAHE an unqualified set of accounts.

The Hon. John Graham: After you gave it $1 billion.

The Hon. DAMIEN TUDEHOPE: No. TAHE has a set of unqualified accounts. The problem for those opposite is "What do we do now? We have invested so much in trying to destroy this organisation. We have invested so much in the trying to establish that TAHE"—

The PRESIDENT: Order! With members wearing masks it is a little difficult to work out exactly who is interjecting, but I am working it out pretty quickly. The Minister has the call.

The Hon. DAMIEN TUDEHOPE: I think there were over six hearings in relation to—

The Hon. Daniel Mookhey: Point of order: My point of order goes to direct relevance under Standing Order 65 (5). I asked a very specific question about how much extra interest we are paying as a result of the Minister's decision to authorise a $1.1 billion bailout. I did not ask for the Minister to account for six hearings of the Public Accountability Committee. The question was specific. I ask him to come back to it, given he is halfway through.

The PRESIDENT: I note that some of the Minister's comments were contextual and introductory, but I now urge him to come to the nub of the question.

The Hon. DAMIEN TUDEHOPE: The point that I was coming to before I was rudely interrupted was that in all those hearings the opportunity to explore this matter was raised. In fact, a key—

The Hon. Daniel Mookhey: That's not true; you announced it in December.

The PRESIDENT: Order! I call the Hon. Daniel Mookhey to order for the second time. The Minister has the call.

The Hon. DAMIEN TUDEHOPE: Policy-free zone, mate.

The PRESIDENT: Minister, you have the call. I encourage you to answer the question and not respond to interjections.

The Hon. DAMIEN TUDEHOPE: There was significant discussion between the Auditor-General and TAHE about how a proper return on assets was being delivered to legitimise the accounts that are the subject of the organisation. The reality is that through working backwards and forwards, as any agency does to satisfy the requirements of its accountants, arrangements were made to satisfy the accounts. At that point, there was utter failure of the whole case that those opposite tried to make to undermine a legitimate State-owned corporation in this State. Quite frankly, it has been disgusting. Having said that, I am happy to refer the balance of the question to the Treasurer.
Additional Answer -

(1) The substantive question of the impact of access fees on state finances was addressed at the Treasury & Energy Portfolio Budget Estimates on 28 February 2022, I refer you to this answer.

Question asked on 24 February 2022 (session 57-1)
Answer received on 16 March 2022

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