Both Miles Hampton (ABC Tas Mornings) and Michele O’Byrne (TV) both ignored the final cost to ratepayers of a State Government takeover of TasWater.
Tony Mulder MLC was also on Tas Mornings. He is correct … ratepayers are the shareholders; Councils are only managing their asset on their behalf.
For example Launceston City Council’s 30,000 ratepayers have $233 million dollar asset. Each ratepayer has $7,770 dollars share holding.
29 Councils should consult with their ratepayers before making a decision, as shareholders, under the companies act any merger, takeover or sale requires a majority of shareholder approval and Miles Hampton was correct this morning.
The con man (Peter) Gutwein (Treasurer) if he wants the 29 councils’ assets he must buy them, the value being 1.6 billion dollars., but no he wants to steal them from the ratepayers and put them into a GBE.
Because we are all aware of what GBEs are like. Forestry lost billions.
NOW HERE IS THE CRUNCH BIG TIME. Launceston City Council receives nearly 4.5 million dollars in dividends annually from Tas Water. Conman Gutwein wants to halve that as a share in the new GBE , reducing ratepayers share by half also.
and the council would have to increase the rate by $80 dollars per year , yet con man Gutwein claims that his model is cheaper than Tas Water,s .
Gutwein should be sacked as Treasurer as most local government councils are in turmoil either sacked or suspended and his new code of conduct legislation , which has had 20 cases held in the last 10 months , caused by the power of City Managers under section 62 and 65 of the local government act.
The Launceston City Council Manager has resigned and the council must re – appoint a new one, who will take complete control and make any decisions he likes without consulting the Mayor or Aldermen , the only way they can sack him is terminate his contract, but usually he has a enough on his side to prevent that.
Basil Fitch
