The NSW government is scrambling to keep a controversial $40 billion rail corporation from unravelling and exposing it to a multibillion-dollar hole in the state budget | adele_ferguson Mattonews
The NSW government is scrambling to keep a controversial $40 billion rail corporation from unravelling and exposing it to a multibillion-dollar hole in the state budget.
About $40 billion of rail assets, including trains, are owned by the government’s Transport Asset Holding Entity.She is already almost two months late in signing off on the state’s finances due to “major outstanding matters” with TAHE. Treasury warned in a confidential document in February that any attempt to abolish TAHE would create aKate Geraghty
It comes weeks after former Transport secretary Rodd Staples told a parliamentary inquiry that he was so concerned about thefrom TAHE last year that he met separately with then-premier Gladys Berejiklian and Ms Crawford. He was sacked without cause as Transport chief in November last year. Under accounting rules, TAHE – which controls $40 billion worth of the state’s rail assets, including trains and tracks – has to show it is truly independent of the government and will turn a profit. If it fails to do so, it could cost the budget billions of dollars a year.
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