Keating Slams Labor's Plan to Sell Historic Military Sites

0:00The latest headlines, weather, and stories, right here on Sydney News today. Former Australian Prime Minister Paul Keating has slammed the Federal Labor Government's plan to sell off 13 historic military sites in New South Wales. Key spots include Victoria Barracks in Paddington, parts of HMA's Penguin and Spectacle Island in Sydney Harbor. Defense wants to raise funds, originally aiming for $3 billion before costs, to support priorities like Akis submarines. Earlier this year, state-owned developer Landcom made an unsolicited bid for three of those sites, including Victoria Barracks and Randwick Barracks, to build much-needed housing. The Defense Department turned it down flat, with no deal reached by late 2023. Now, a broad coalition of labor MPs, liberals, greens, and independents is pushing back hard against the sales, worried that prime public land with heritage value could end up in private hands. Keating argues these aren't just defense assets, but national treasures

1:01held in trust for all Australians. Meanwhile, a private equity firm recently offered $5 billion for the entire portfolio of disused Barracks, waterfront spots, and even a vacant island. Keating called on the government to ditch the sales entirely and find budget space for defense needs without touching these gems. State housing officials have expressed interest in buying Victoria Barracks for homes, but they're ruling out aggressive development, and no talks are active now. The federal opposition labels it, a rushed fire sale, as the debate heats up over protecting Sydney's historic defense lands. The Daily News now is presented by our sponsor, LinkedIn the description, press play, put your head down. The sound is already there, s-o-l-i-soli-pillow.com