Lake Macquarie MP Greg Piper isn’t expecting any problems with the passage of his ports bill today in the NSW Legislative Assembly.
The NSW Government has added some amendments to the Port of Newcastle Extinguishment of Liability Bill 2022 that Greg Piper has accepted which will unshackle the Port of Newcastle from the controversial restrictions on container movements.
Those amendments require the Government to appoint an independent and appropriately qualified person to determine what the fair market price for the lease on Newcastle port would have been if the restrictions on container trade were not in the original deed of agreement. Port of Newcastle, which holds the 99-year lease, would be required to pay the Government the difference between the new valuation and the $1.7 billion it paid in 2014.
The current restrictions on Port of Newcastle will be extinguished once that process has been completed, and that must occur within six months after application. Port of Newcastle is supportive of the new terms and has indicated it will move quickly to get the process under way.
“This has never been about one corporation over another, but about what’s best for Newcastle and the Hunter, for regional NSW, our farmers and exporters, and the future of international trade in NSW,” said Greg Piper.
“I could not sit back knowing that for the next 43 years, this region would be denied the opportunity to create thousands of new jobs and attract billions of dollars worth of private investment by a deal which even the ACCC and Productivity Commission have said was unfair and unproductive.
“I want to thank the Treasurer Matt Kean for working through this issue with me and I’m hopeful the Bill will now receive the cross-party support it deserves when it’s debated on Tuesday.
“I’m also grateful to Port of Newcastle, not just for the support they have provided me but for the investment they are making in our region, the jobs they are creating for local people, and for their commitment to ensuring our region is ready to tackle the challenges of the decades to come.”
The Bill did divide some local politicians with Member for Northern Tablelands Adam Marshall, the Member for Newcastle Tim Crakanthorp and the Member for Upper Hunter Dave Layzell all supporting the bill.