Brisbane's Mayor protests Beattie water asset grab ...

Excerpt from the Courier Mail:

Mayor sounds warning

17 May 2007

Household rates will go "through the roof" if the State Government short-changed councils in a reform of the region's water supplies, Lord Mayor Campbell Newman says.On Tuesday, Cr Newman pre-empted a possible move by the Government to seize control of councils' water assets by outlining his own proposed model for water administration in the southeast.

In a letter to Premier Peter Beattie, Cr Newman proposed councils would hand over control of their bulk water assets to the State Government in return for fair compensation – either cash or equity in the assets – and the right to continue to retail water.

Yesterday, Cr Newman said his plan would require serious concessions by City Hall, coupled with very significant financial transactions between councils and the State Government.

"If those assets weren't paid for in some way or we weren't given equity, it would mean there would be huge upward pressure on rates – rates would have to go up," he said.

See - Beattie privatisation grab.

The same issue applies to Toowoomba with Premier Beattie seeking to take around $300-400 million of Toowoomba's water assets (around a third of the assets Toowoomba City Council manages for the ratepayers of Toowoomba) for his asset amalgamation and future privatisation ...