LNP Senator for Queensland Gerard Rennick is calling on the Auditor-General to reconsider his future given the flawed assumptions and cost blow outs associated with the valuation of the Leppington Triangle.
During additional estimates Senator Rennick questioned the Auditor-General’s intentions to smear the Morrison Government and demanded an explanation for why they did not explore industrial, infrastructure or residential zoning valuations for the Leppington Triangle land.
During his questioning Senator Rennick declared there are four different types of land zonings; infrastructure, agricultural, residential and industrial and of the nine valuations in the Auditor-General’s report, eight were based on the land being zoned as agricultural land.
“If the Auditor-General used valuations that assumed the land was zoned as anything other than agriculture, the so-called Leppington Triangle would clearly be valued around the $30 million mark, rather than $3 million as some have claimed”, said Senator Rennick.
“To compensate an Australian citizen on anything other than just terms violate the Australian constitution, a document the Auditor-General should be upholding.”
Senator Rennick also questioned why the Auditor-General spent $333,000 taxpayer funds on a report that was clearly flawed, and skewed.
Senator Rennick said as a former finance executive with more than 25 years’ experience in the private sector as well as taxation law and applied finance, it took less than an hour for him to determine a market value of close to $30 million for the Leppington Triangle.
“The Auditor-General has wasted taxpayer funds at the equivalent of three years’ worth of wages on what would appear as nothing more than a political witch hunt, it’s disgraceful.”