Mathias Cormann (WA, Liberal Party, Minister for Finance) Share this | Hansard source

The proceeds from the sale of Medibank Private will be reinvested in productivity and enhancing infrastructure as part of the government's plan for a stronger, more prosperous economy where everyone can get ahead. The beauty here is that this is microeconomic reform which will see Medibank Private perform even better in private hands, without the restrictions of government ownership, which means that Medibank Private policyholders will be better off. The government on behalf of taxpayers will be able to release the capital that is currently tied up in Medibank Private and will be able to use it for forward-looking purposes, such as investing in new infrastructure for the future. The Medibank Private service, of course, continues to be available and will provide better services. In the meantime, we will be able to reinvest the capital that is released to ensure that we continue to grow the economy more strongly by moving forward.