The proceeds from the sale of NSW Lotteries should be invested into infrastructure for the future rather than plugging Labor’s deficit, Shadow Treasurer Mike Baird and Shadow Minister for Hospitality, Tourism and Major Events George Souris said today.

“Nothing has changed with the State Labor Government – grab the money today and forget about tomorrow,” Mr Baird said.

"It is basic budget management to use any proceeds of asset sales to invest in the future but then again basic budget management has been missing in this State for 15 years.

“It’s like selling your house and going on an all expenses paid holiday and wondering where you are going to live when you return.

“The funds from Lotteries should be directed straight into infrastructure like getting the North West rail link started tomorrow – this would continue to deliver a return for NSW taxpayers.

“It is crazy budget management to sell an asset and not invest for the future, however this is Government NSW Labor style,” Mr Baird said.

Mr Souris said the State Labor Government had been dragged kicking to provide a range of protections for small business lotteries agents and that the NSW Libs/Nats will be scrutinising the conditions of sale to ensure these negotiated protections remain intact.

“The State Labor Government was claiming to have sold existing cash and reserves which were already assets of the people NSW by artificially raising the sale "proceeds" to include these assets,’ Mr Souris said.

“It's like selling your existing cash and being paid for it as if it is a fresh sale.

“They failed to consult with newsagents and only included protections within the legislation after the NSW Liberals & Nationals took up the fight.

“This is another transaction that has been managed to benefit the State Labor Government and not NSW taxpayers.

 “It is typical of the State Labor Government’s incompetence that they would fail to use the sale of an asset to invest for the future,” Mr Souris said.

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