TAHE is a ticking budget time-bomb - Greens recommit to defuse TAHE following Auditor-General report

Today’s scathing Auditor General’s report into the Design and Implementation of the Transport Asset Holding Entity (TAHE) lays bare, in forensic detail, the true enormity of the damage that Perrottet’s pet project will inflict on the state finances.

The Greens NSW have reiterated their commitment to dismantle the disastrous TAHE boondoggle, calling for honesty and transparency with state finances and an end to cynical budget trickery.

Today’s scathing Auditor General’s report into the Design and Implementation of the Transport Asset Holding Entity (TAHE) lays bare, in forensic detail, the true enormity of the damage that Perrottet’s pet project will inflict on the state finances.

The Greens NSW have reiterated their commitment to dismantle the disastrous TAHE boondoggle, calling for honesty and transparency with state finances and an end to cynical budget trickery.

Quotes attributable to Abigail Boyd, Greens NSW MP and Spokesperson for Treasury, Finance and Economy, and Spokesperson for Transport:

“This report confirms what the Greens have been saying for years - the TAHE structure was concocted as a flimsy accounting trick to try and deliver a short-term sugar hit to the budget. The result is a lasting headache when it comes to future governments needing to spend billions of dollars and jump through hoops in order to prop up the accounting treatment at the expense of passenger safety. Unless we unwind Perrottet’s mess, this sloppily concocted plan will burden future governments for decades.

“TAHE was a scheme based on incorrect assumptions, its design dictated by a political motive rather than the safe and responsible management of our state's vital rail assets. It was hubris and a fear of being found out as poor financial managers that led the Liberal-National Government standing stubbornly by a structure that could never work. The best time to pull the pin on this budget time bomb was years ago, the second best time is now.

“On its current course, it stretches the limits of imagination to think that TAHE will ever generate a sufficient rate of return to justify its shonky accounting treatment. Is it any wonder then, that TAHE’s attention appears to now be on creating a developer’s paradise out of our public assets in its scramble to make a profit? The solution to the TAHE problem is not to flog off our precious public spaces and commercialise our train stations with high-rise multi-use developments - the solution is to return our rail assets to direct government ownership and control.”

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