Comment #1

wizeguy — Tue, 12 Dec 2006 05:45:05 GMT

All these proposals to sell rights to the lottery bother me. Who is going to buy unless they can profit! Why not keep *all* the profit. Why not save profits for 3 years... will have more than they propose getting from the sale. Or borrow the money and pay out of the next few yrs profits and do the projects now. It doesn't add up to me

Australian lottery sale proposal 'a gamble'

Lottery Post — Mon, 11 Dec 2006 12:45:01 GMT

A NSW opposition plan to sell NSW Lotteries to help pay for drought projects would amount to a gamble on the security of the state's water resources, Premier Morris Iemma says.

Opposition Leader Peter Debnam wants to sell NSW Lotteries, from which the government earned $381 million in 2005/06, to help pay for a $1 billion drought-proofing water fund.

It's expected a coalition government would earn around $800 million from the sale, details of which Mr Debnam will finalise after consulting... [ More ]