Western Power Sale Commitment Welcomed

The Property Council has strongly welcomed the WA Government’s commitment to the partial sale of Western Power as part of its asset re-cycling program to create an infrastructure fund.

The call comes after the Premier’s announcement today that the State Government will press ahead with the partial sale of the public utility with $3 billion from the proceeds going to fund investment in priority areas such as a transport infrastructure.

“Today’s announcement is welcome news and the property industry is very pleased to see that the State Government has decided to use the revenue raised from the partial sale of Western Power, to invest in critical public infrastructure projects,” Property Council WA Executive Director Lino Iacomella said.

“By investing this revenue into public infrastructure like rail and road projects to reduce congestion, the Government will not only create much needed jobs, but also boost growth and enable more local investment. 

“These infrastructure investments will ensure communities are more accepting of local projects to create much-needed housing diversity.

“With WA’s tight budget situation, there is a limited capacity to invest in infrastructure. A strong asset-recycling program, linked to funding infrastructure, is an excellent alternative funding approach which has been utilised successfully in other states.”

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Media contact:  Lino Iacomella | M 0417 501 974   |   E liacomella@propertycouncil.com.au