SA Water should be sold to inject $13 billion into the state’s economy and avert a “major economic depression”, South Australia’s peak construction body says.
The Civil Contractors Federation of Australia’s SA branch says funds raised from the sale of the SA government business enterprise will also help reverse the 7.7 per cent unemployment rate and fund public transport projects.
“SA is teetering on the edge of a major economic depression, which demands strong stewardship to lead us through this quagmire,” chief executive Phil Sutherland said.
He also called on the government to look beyond the “cheap political fallout” expected from the decision to sell the public asset.
“Tough times demand robust, brave and unprecedented decision-making by our state’s leaders,” he said.
Mr Sutherland said SA Water currently contributed $300 million a year to the state’s economy.