Leader of Australia’s biggest state economy quits politics
SYDNEY: The leader of Australia’s biggest state economy, New South Wales ( NSW), yesterday announced his resignation from politics two years out from the next election, citing ill-health in his family as one reason for his surprise departure.
State Premier Mike Baird has overseen major privatisation and infrastructure investment in Australia’s most populous state, which is worth A$ 530 billion ( US$ 398.19 billion) and larger than the economies of Thailand, Malaysia and the Philippines.
“I said many times I didn’t want to become a career politician,” 48year- old Baird told reporters in Sydney.
“I wanted to go as hard as I could for as long as I could and then step aside. Well, today, I am making good on that pledge.
The NSW economy accounts for 31 per cent of Australia’s gross domestic product with a population of 7.3 million.
In recent years NSW has seen sustained investment in infrastructure funded by a wave of privatisations, the most recent being the A$ 16.2 billion sale of power networks Ausgrid in October and TransGrid to an international consortium of funds for A$ 10.26 billion in November 2015.
A vote to replace Baird will be held next week, with state treasurer Gladys Berejiklian seen as the front runner.
Berejiklian has worked closely with Baird on the privatisation plans so a promotion to leadership is expected to see a continuation of current NSW economic policies.
“Berejiklian and Baird have committed to infrastructure investment through privatisations. Should she become premier, I can’t see any change in that,” said Peter Chen, professor of political science, University of Sydney.
The new state leader will be in place for the next asset sale by NSW, a 50.4 per cent stake in Endeavour Energy that powers parts of southern Sydney and is expected to attract bids of around A$ 4 billion.
Baird has been Australia’s most popular state leader, comfortably securing re- election in 2015, but was forced into several embarrassing u-turns last year after banning greyhound racing and restricting the purchasing alcohol across the state. — Reuters