25-12-2014 The purchase of the five-hotel Ayers Rock Resort by the Indigenous Land Corporation is to be investigated by the federal government. Finance Minister Mathias Cormann has been convinced of the need for an inquiry into the $320 million acquisition in 2010. It’s a shame the ILC hasn’t used the resort as a springboard for more indigenous involvement in tourism, says David Baffsky, former ILC director.
The new board of the ILC, led by chairwoman Dawn Casey, has complained that the acquisition has burdened the corporation with debts of $200 million. The value of the resort has been written down by $120 million. Dr Casey has described the deal as “perhaps the largest single evaporation of public money in the indigenous policy domain, ever” and ILC chief executive Mike Dillon told a Senate committee last year the purchase was “inexplicable and inexcusable”. More in the SMH
Comment by Wake Up Time: FINALLY! It’s time the government finally looks into this mess. In Wake Up Time the hard facts about this disaster were revealed in mid July 2014. Apart from looking into this issue now, and finding a solution, the government should seriously consider the autonomy of the Land Councils.
Tax Payers Money deserves much better scrutiny.