Closed companies cost State $60M in Budget 2027

In the past 25 years, dif­fer­ent ad­min­is­tra­tions in Gov­ern­ment have set up spe­cial pur­pose com­pa­nies- ac­cord­ing to their state­ments- to shut­ter debt, to fa­cil­i­tate and fast-track in­vest­ment or to cre­ate ve­hi­cles for de­liv­ery dur­ing their tenure.

But sev­er­al have been closed, and some sad­dled with bil­lions in debt be­cause of cor­rup­tion and mis­man­age­ment, in ad­di­tion to as­so­ci­at­ed costs of au­dits, le­gal fees and liq­ui­da­tion.

Tax­pay­ers have borne the cost and debt of these ven­tures and the state still pays loans tied to some.

Af­ter decades of be­ing on the bud­get books, some still re­quire state funds for lega­cy is­sues.

Asha…