Privatisation to cost Victoria $60m annually
Prosper enjoyed the lead quote in an Age article “Inquiry scrutinises Land-titles selloff ahead of August sale”
But land tax advocacy group Prosper Australia has told a parliamentary inquiry into the sale that the estimated $2 billion price reflected a yield of 6 per cent – a rate far above bond rates.
Prosper researcher Jesse Hermans told the inquiry, “We are looking at a yield of about 6 per cent whereas the the government can borrow at a rate of about 3 per cent over 10 years for 10 year bonds – that’s a difference of about $60 million per year,” he told the parliamentary inquiry.
Prosper project director Karl Fitzgerald also raised the cost of crucial aggregated data which university and public policy researchers use to produce reports on housing ownership and affordability.
“We are already concerned about the incredible cost of data ,” Mr Fitzgerald said.
For more detail on our concerns with the long-term lease of the Land Titles Registry, read the robust transcript from our appearance at the Parliamentary inquiry.