In a show of utter recklessness, David O’Byrne has again demonstrated he can’t read a set of financials.
Macquarie Point Development Corporation had nearly $13 million in the bank at the end of June 2020, and now David is recklessly claiming it’s broke.
Only Labor can spend money that fast and have nothing to show for it.
The Corporation’s board members understand and meet their obligations, and the $5.2 million allocated in this year’s budget from the proceeds of the sale of the Elizabeth Street Pier site will be provided to support key projects for the Macquarie Point Development Corporation in 2020-21, as per the budget papers.
Once again, David O’Byrne has forgotten how hopeless his government really was, and the decisions they made.
It was David O’Byrne who took $5 million out of the $50 million federal grant. This money puts back what Labor took away, just as the Premier had previously committed to do.
The Corporation has more than adequate funds to cover its operational expenses and continue with the really important components of remediating the site, selling the first parcel of land, completing the road works and associated infrastructure and commencing the planning for “The Park” in line with the Master Development Plan.
As it currently stands, the first land release, The Escarpment, is well underway and remediation will be 80 percent physically competed in the coming weeks. The new road and important service infrastructure, which lays the foundation for the redeveloped site, are in place.
Mr O’Byrne’s petty jealousy stems from his own inability to deliver projects and the fact that the Liberal Government has been able to deliver plenty at Macquarie Point in only a little over a year since getting approval for the new Masterplan.