Motor Accidents Compensation Fund asset up for sale

15 November 2018

The Opposition has called on the Labor Government to reveal what it intends to do with the proceeds from the sale of the TIO Centre at 24 Mitchell Street Darwin.

Recent newspaper advertisements request Expressions of Interest for the 1780 square metre property which is owned by the Motor Accidents Compensation (MAC) Fund.

"The proposed sale raises questions about why it is happening and why hasn’t there been any public statement from the Territory Government," Deputy Opposition Leader Lia Finocchiaro said.

"This is a significant public funded asset and taxpayers have a right to know the reasons behind its sale."

The MAC Fund is part of the Motor Accidents Compensation Commission which invests motor vehicle registration proceeds on account of claims costs arising out of road accidents.

"Given the investment of MAC funds are for the long term and earmarked for future claims why would the MAC fund be selling this asset?" Mrs Finocchiaro asked.

"We have submitted all these questions to the Government. They brag about being open and transparent – we’d like to know what they’ve got to hide."