Fed: Medibank sale set to pass parliament today

AAP General News (Australia)
12-05-2006
Fed: Medibank sale set to pass parliament today

The sale of Australia's largest health insurer .. Medibank Private .. is set to be
approved in parliament today .. ensuring the health fund's privatisation will feature
heavily in the next election campaign.

Finance Minister NICK MINCHIN says there's no longer any case for the government owning
one of 38 private health insurance businesses in the country .. and taxpayers shouldn't
have their funds tied up in a business of this kind.

If the coalition wins next year .. and the public float proceeds in 2008 .. it'll be
the first time a health fund's been listed on the Australian Stock Exchange.

The sale's expected to reap up to two billion dollars for the government.

Labor opposes the privatisation .. and has promised to unwind the sale if elected ..

ensuring Medibank remains in public hands.

AAP RTV dcr/rp/cp/psm/

KEYWORD: MEDIBANK (CANBERRA)

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