*Sizzling* new #Watergate documents show taxpayers & rivers were ripped off.
Kudos to @Senator_Patrick for epic FoI battle.
After 2 year cover up, only explanations left are incompetence or wrongdoing by @DeptAgNews under @Barnaby_Joyce. THREAD.
Kudos to @Senator_Patrick for epic FoI battle.
After 2 year cover up, only explanations left are incompetence or wrongdoing by @DeptAgNews under @Barnaby_Joyce. THREAD.
Taxpayers paid @AngusTaylorMP's former co $80m for dubious water in Condamine Balonne valley. It seemed outrageous at the time, esp when the co announced a $52m profit on the deal.
@MaryanneSlatte1 & I showed, the dpt had haggled the price *up*.
tai.org.au/content/thats-…
@MaryanneSlatte1 & I showed, the dpt had haggled the price *up*.
tai.org.au/content/thats-…
The price of $2,745/ML and profit have never been disputed, but Department told the Senate “This price was consistent with the market valuation,” along with some other selective quotes and misrepresentations:
(Question 197 here: aph.gov.au/Parliamentary_…)
(Question 197 here: aph.gov.au/Parliamentary_…)
Let’s unpack this, starting with the market valuation:
So, a point estimate of $1,500/ML, a range of $1,100 to $2,300. Valuer even says “The majority of OLF licences would be considered to be in the lower end of this range.”
So @DeptAgNews's first claim is clearly untrue. Let’s move to the slipperier section:
So @DeptAgNews's first claim is clearly untrue. Let’s move to the slipperier section:
The valuation does not state that “the department should be prepared to pay” a 10 to 30% premium. That’s just a lie. What it does say is this:
So “high standard” properties might get a premium. Weirdly, the 2 egs mainly cited are in a dif valley.
Were #watergate properties Clyde & Kia Ora “high standard” with “above average water use efficiency”? From our report:
Were #watergate properties Clyde & Kia Ora “high standard” with “above average water use efficiency”? From our report:
This shows work *BY THE SAME VALUER* stating that they were *THE LEAST EFFICIENT* properties.
So the @DeptAgNews's valuer is clear that the #watergate properties were the *least* likely to earn a premium & most likely at the bottom of range that they had themselves commissioned.
So the @DeptAgNews's valuer is clear that the #watergate properties were the *least* likely to earn a premium & most likely at the bottom of range that they had themselves commissioned.
Interestingly, the @ANAO_Australia's recent scathing report on water, noted there was no “framework designed to maximise the value for money” but also:
The new documents contradict this. They either didn’t have this doc or misrepresented it. Which is it, @ANAO_Australia ?
anao.gov.au/sites/default/…
anao.gov.au/sites/default/…
Where does this leave us? Taxpayers down $80m, Cayman Is up $52 million.
@DeptAgNews officials repeatedly misled Senate. Stay tuned for #estimates
But why? It can only be incompetence or wrongdoing.
Here’s our full report (may contain Elvis gags):
tai.org.au/content/unreda…
@DeptAgNews officials repeatedly misled Senate. Stay tuned for #estimates
But why? It can only be incompetence or wrongdoing.
Here’s our full report (may contain Elvis gags):
tai.org.au/content/unreda…
