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Defence home loans portfolio: Moore



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MEDIA RELEASE

JOHN MOORE MP SHADOW MINISTER FOR

BUSINESS and CONSUMER AFFAIRS

COMMONWEALTH PARLIAMENTARY LIBRARY C. I. s.

DEFENCE HOMES LOAN PORTFOLIO: MOORE

"The Government's asset sale process needs to be privatised so taxpayers' gain the benefit of the finaneial expertise of the competitive marketplace, according to John Moore, Opposition Spokesman for Privatisation.

"The Federal Government's approach concerning the sale of the Defence Homes Loan portfolio contrasts sharply with the sophisticated policy devised by the Coalit ion.

"In this asset sale, the Government chose the path of appointing an Asset Sales Task Force to advise and handle the Government side of the transaction.

"While they may well have carried out their task effectively, international privatisation precedents suggest the most expedient way to progress an asset sale is via an experienced arid independent financial advisor - such as a qualified financial institution.

"Central to the Opposition strategy is the appointment, on a tender basis, of independent financial advisors to safeguard the Commonwealth's position when negot iat i rig asset sales .

"In this way not only are the best interests of taxpayers served, but more importantly they are seen to be served.

Mr. Moore also rioted it would not be the Opposition's intent to alter the terms of the existing loans through such a sale.

CANBERRA 13 OCTOBER, 1988 PH. 77 4133