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$1.7 Billion income for NSW at stake in proposed electricity selloff

Analysts and anti-asset sale critics have pointed out that the underlying issue for ‘leasing’ the electricity system poles and wires, as proposed in the upcoming election by the Liberals and Nationals, is more than the question of possibly higher prices for consumers: it is the cost to the budget from lost income.

Almost $2 billion annually is at stake that currently helps pay for essential services such as teachers, nurses and police. That revenue would be lost while the one-off sale income goes to roads in the Sydney metro area.

Federal cuts under the present government to schools, TAFEs and the medical system have already taken their toll and state funding will suffer further if the budget goes forward without the income from its electricity assets.

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