Reckless ideology with property data privatisation - Public Service Association

Reckless ideology with property data privatisation

Government coffers will be stripped of $100 million a year by the Baird Government’s sell off of the titling and registry of the Land and Property Information (LPI) Service, the Public Service Association (PSA) says.

The Government claims the proceeds of the sale will be directed towards infrastructure including the Government’s extravagant sporting stadium revamp.

The PSA, which represents the workers at LPI, said any sell-off would mean higher fees for consumers on services like mortgage registrations, land title transfers and records searches, a financial burden on both property owners and renters.

“This is the most secure titling service anywhere in the world and the NSW Government is yet again handing that sensitive personal information over to the highest bidder,” said PSA General Secretary, Anne Gardiner.

“As Gary Ulman, the President of the Law Society of NSW has stated, ‘…there are some state-owned assets that should remain in public hands and this is one of them.’”

“The Land Titles records underpin the security of the financial system of the state of NSW,” said Anne Gardiner.

“Currently, the Government provides insurance and security of property titles. But if LPI is sold to a private operator, individual owners may have to take out insurance to guard against unscrupulous property developers acquiring their land.”

“Once more, the PSA has not seen a proper business case or cost benefit analysis that states why such a well run and profitable Government service should be privatised.”

“A private operator will be driven by profit – why else would they buy an enterprise? – which means higher fees for services which will of course be passed down to the consumer.”

Ms Gardiner said apart from the impact on jobs and job security there is also the critical issue of personal data security once the unit is no longer operated by the Government.

“The Government’s claims that the system will be protected by a strong regulatory structure are hollow at best.”

“The security of land titles should remain in the hands of the Government not the private sector.”

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