The ACT government may sell all the public assets it can under the guise of securitisation. Last week they called for expressions of interest, by the end of May 2023,​ ​from financial organisations to​ supply “Trustee and Related Services for a Securitised Funding Structure (SFS).” Securitisation means the government creates financial products out of debt and community assets – like ​Bank Loans, ​Icon Water, Public Hospitals, Schools, Parks, and functions of government – like collecting fines and taxes. They sell these financial products to Private Equity Groups and Foreign Sovereign funds. Future Canberra​ns will have to re-purchase these products or pay fees for ever. The government uses the money from selling securitised assets on other assets for the Community while leaving citizens to buy back their assets long after the current government has retired.

There are simpler ​alternatives to securitisation. One is to improve the current system by “releasing” the value of assets to the local communities they serve. It transfers some of the value of the assets to the people who pay to use them – like paying a water bill. The people who receive the money have to use it to pay for the new assets and receive a return with lower taxes or services.

I have yet to see any discussion on the government securitising community assets, yet it is critical to the ongoing financial health of our Community.

​I urge readers to ask their local representatives and people they know in the government why the government thinks it is necessary to securitise assets and if there are better alternatives.