[Greens-Media] Media release: Land title privatisation exposes NSW economy to huge risks

[David Shoebridge]

Media release

23 May 2016



The planned "35 year concession" of the Land and Property Information title function is a high risk privatisation, which will put the personal information of property owners in danger, and jeopardise the NSW economy.



Greens MP and Justice Spokesperson David Shoebridge said:



"Privatising the registration and recording of land titles in NSW is an unprecedented and reckless experiment in privatising a core part of government.



"The land titling system underpins our entire economy, it is a core responsibility of the state and must be undertaken by public servants.



"To have this extremely sensitive data which includes land title but crucially the mortgage obligations of millions of landowners controlled, regulated and accessed by a private entity is completely unacceptable.



"For most people the purchase of their family home is the most significant financial asset, and sadly often costs more than a million dollars in Sydney. It's reckless to hand the administration of that to a private for-profit company.



"Let's be clear, if the land title system is compromised as a result of this privatisation experiment, the NSW economy will fall over.



"The NSW Government collects around $8 billion each year from stamp duty, and the title office is a substantial profit centre from the overall lands department.



"We cannot allow this government to continue to pursue their ideological privatisation agenda at the expense of the NSW economy and future security.



"The Greens NSW strongly support the workers and the PSA for any action they take to keep this agency in public ownership and control," Mr Shoebridge said.



Media contact David Shoebridge 0408 113 952





David Shoebridge

Greens MP in the NSW Legislative Council

P: (02) 9230 3030 |T: @ShoebridgeMLC<http://twitter.com/#!/shoebridgemlc>

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