Public assets virtually given away

Today I read about how in 2003 the Brighton army barracks was sold for a paltry $150,000. The property was valued at at least $2.4  million at the time. It is now worth in excess of 34 million dollars. You really have to wonder why the then Defence minister Robert Hill (now in a cushy job in Kevin Rudd’s climate department) would squander an obvious public asset for such a pathetic sum. The story is not being covered on any major news sites but I found it here. If this is how well the government can manage the auctioning of publicly owned assets I’d hate to know how stitched up the got on other sales.


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