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The NSW government forked out $550,000 to a global consultancy for six weeks’ work last year to help devise a strategy for a controversial rail entity as the state battled COVID-19 and unemployment reached a peak.
The fee pitched by Boston Consulting Group (BCG) in July last year was a discount to its usual rate of $800,982 (excluding GST) because it was a “long-term relationship client”, internal documents reveal.
About $40 billion of raAbout $40 billion of rail assets including trains are owned by the government’s Transport Asset Holding Entity.
CREDIT:RHETT WYMANA trove of documents released to Parliament show the government has spent millions of dollars on consultants to advise on the Transport Asset Holding Entity (TAHE). In some cases, it hired them without going to tender.
Some work was commissioned in the midst of the COVID-19 lockdown last year and as Australia was suffering its deepest economic contraction since the 1930s.
The Herald can reveal the government ended up spending more than $2 million on consulting fees for BCG work on the controversial rail entity and a similar amount for accounting firm, KPMG. Other big-four consulting giants commissioned by the government to advise on TAHE include PwC and EY.
Shadow treasurer Daniel Mookhey described the state-owned corporation, which controls $40 billion worth of NSW’s rail assets, as a “honey pot” for consultants.
Mr Mookhey said the consulting firms were making a motza as the government flailed about trying to stop the “budget bomb”, which TAHE had become, from detonating.
This article first appeared on www.smh.com.au
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