Post to stay public, as will submarines
The Finance Minister says Australia Post will not be privatised.
Finance Minister Mathias Cormann confirmed the Federal Government would not sell one of Australia’s oldest public assets, in a budget estimates hearing this week.
The Government still plans to offload Medibank Private and has launched studies into the potential sale of the Royal Australian Mint and Defence Housing Australia, as flagged in the recent budget.
In the estimates hearing on Tuesday, Senator Cormann said several agencies will not be privatised despite some strong rumours.
“Beyond that we've decided not to proceed with the sale of the ASC [Australian Submarine Corporation], we've decided not to proceed with the sale of Australia Post,” he said.
The recent Commission of Audit’s final report said selling Australia Post in the medium-term would bring some much-needed profits, as would the privatisation of the Mint, the Australian Rail Track Corporation and COMCAR.
The report named ASC, Australian Hearing Services, the Government’s stake in Snowy Hydro and Defence Housing Australia as options for short-term sale.