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Tuesday, 22 May 2001
Page: 26737

Mr McClelland asked the Minister for Finance and Administration, upon notice, on 6 February 2001:

(1) What are the Government's plans in respect of the proposed sale of Sydney (Kingsford-Smith) Airport.

(2) Will the proceeds of the sale be used for a specific purpose; if so, what is that purpose.

Mr Costello (Treasurer) —The Acting Minister for Finance and Administration has supplied the following answer to the honourable member's question:

(1) Following its consideration of the scoping study report into the sale of Sydney Airports Corporation Ltd (SACL), the Federal Government has decided to sell Sydney (Kingsford-Smith) Airport by a 100% trade sale to be completed in the second half of this year.

(2) The proceeds of the sale of Sydney Airport will be applied to reduce Commonwealth debt.