Another “potentially corrupt” land deal emerges

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Recently the federal government attracted widespread scrutiny over its controversial Leppington Triangle land deal.

The 2018 purchase of the 12.3 hectare block of land, which was part of the construction of the new Western Sydney Airport, led to an investigation by the Australian National Audit Office (ANAO) after the land was valued at just $3 million 12 months after it was purchased for $30 million.

The ANAO described the Leppington Triangle land purchase as a “significant and unusual transaction” that “did not exercise appropriate due diligence” and “fell short of ethical standards”.

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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.