Labor’s so-called plan for superannuation funds to invest in water and sewerage projects could see prices sky-rocket by up to 18 per cent.
Rebecca White confirmed today that she wants Tasmanians to pay for water and sewerage upgrades.
ABC Mornings host, Leon Compton, asked: “…Where is the revenue going to come from to pay off super funds if they come and invest in the project? Where will they get their return?”
Ms White replied saying: “Well it’s like any project that you have with a water and sewerage entity, obviously consumers have to pay.”
It’s as clear as day that under Labor, Tasmanians will see massive water and sewerage price rises.
It’s ridiculous to think that superannuation funds would invest substantial amounts of money and not want a return on investment. Even a modest return of between three and five per cent would see rises of up to 13 per cent in water and sewerage bills.
When you add in TasWater’s proposed price rises, the total increase could be up to 18 per cent on the average water and sewerage bill. Many households simply wouldn’t be able to afford that.
The Government understands that the cost of living is a significant issue, that’s why under our plan, price rises would be capped at between just 2.75 and 3.5 per cent.
We will also ensure councils continue to receive dividends from TasWater, which means rates won’t have to rise.
Importantly, under our plan, the accelerated investment will be paid for by TasWater and not customers.
Our plan is supported by the Tasmanian Chamber of Commerce and Industry, the Property Council, TasCOSS, the Tasmanian Hospitality Association, the Tourism Industry Council of Tasmania, the Master Builders Association, the Tasmanian Small Business Council and, most importantly, the broader community.