Secret aspects to the deal with Toll are starting to come to light, and the price tag for taxpayers just keeps rising. The Herald reports on how the taxpayer has also taken on responsibility for a $200 million loan to the parent company of Toll NZ. So what are the details we know of, to date:
- Taxpayers pay $665 for just trains and ferries – around double what the trains, ferries and freight business cost a few years ago
- Taxpayers pay $200 million loan to Toll Australia
- Toll NZ keeps profitable freight business
- Toll NZ gets rent free office for six years
- Taxpayer responsible for several hundred million of stock upgrades
- Rumours of a price discount for Toll’s freight business
From Toll’s point of view, this really has been the sale of the century. They’ll never ever find another history lecturer with so much money to give away.