Did UBS breach its ‘Chinese Walls’?

After retaining power in the recent NSW state election, Premier Mike Baird looks set to achieve his goal of selling half of the state’s electricity distribution system.Putting aside the political arguments over privatisation, there is controversy over the report the government’s advisors, UBS, issued 11 days before the election. Although generally supportive of the deal, its title – Bad for the budget, good for the state – and conclusion that the state's budget would suffer from lost future profits raised the government's ire.Colleague Gaurav Sodhi has previously noted that selling NSW's poles and wires now isn’t a bad idea given that earnings...

After retaining power in the recent NSW state election, Premier Mike Baird looks set to achieve his goal of selling half of the state’s electricity distribution system.

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