Preserve Controlling Interest In Quarry - Berry

Wayne Berry - Opposition Spokesperson on Employment

Media Statement - 24 May 2001

Labor Shadow Employment Minister Wayne Berry has called on the Chief Minister Gary Humphries to preserve a controlling interest in Totalcare's Williamsdale quarry.

The government has released figures which show that an $800,000 payment remains outstanding from the proposed joint venturer.

"This remaining payment leaves open the opportunity for the ACT Government to restore the controlling interest in this valuable Territory revenue source," Mr Berry said.

"If Gary Humphries had not directed Totalcare to sell off a controlling interest, the Territory's future revenue would not have been squandered.

"Mr Humphries can now repair some of the damage of his action by instructing Totalcare to find a way to preserve control over the joint venture in lieu of part or all of the $800,000 yet to be paid to the Territory.

"Totalcare fully owned the quarry development before it was forced to sell off its controlling interest by Gary Humphries. Tens of millions of dollars of future revenue as well as significant budget impacts through cost savings deserve the protection of a controlling interest at least.

"Gary Humphries should never have squandered full ownership of this valuable resource and it's about time he took some actions to reverse the damage caused by his ideological obsession with the private sector.

"The ACT Government supported the joint venture on the basis of the involvement of a local company. Now that the local company has dropped out the government has another reason to change its mind about losing the controlling interest.

"We've been robbed by ideology," Mr Berry concluded.