Letter from Harold Levien, SMH Friday 14-apr-2017
The sale of the Land and Property Information (LPI) registry is so against the interests of the citizens of NSW that this state government deserves to be dismissed (“Berejiklian hails $2.6b land titles windfall”, April 13).
Leaving aside both the idiocy of using $1 billion of the sale to upgrade three stadiums, when public schools and public hospitals are crying out for funds, upgrades and huge backlogs in repairs, and the loss of such an important institution to government control, the state will actually lose funding from the sale.
It would cost the government no more than around $78 million annually to borrow these funds. But since the registry currently generates $130 million profit a year, this would still leave the government around annually in the black while retaining control of this important office.
Harold Levien, Dover Heights