The political future of one of the most senior NSW ministers is in doubt after it emerged he held shares in tolling giant Transurban, which owns most of Sydney’s motorways including WestConnex.
Finance minister and leader of the government in the Legislative Council Damien Tudehope confirmed he held shares in Transurban, which owns the majority of tolling concessions across Sydney, including WestConnex, NorthConnex and the M2.
Tudehope said on Friday that “he did not know” he held the shares in a family superannuation fund, despite insisting he gave a “printout of the assets contained that were held by my superannuation fund” to Premier Dominic Perrottet and former premier Gladys Berejiklian.
Tudehope said the Transurban shares were sold overnight, after conceding they had risen in value considerably since he was appointed minister in 2019. He said he would donate to charity any profit he made, which he expected to be about $6000.
The minister said he did not recuse himself from cabinet over discussions involving Transurban because he “did not know” he owned the shares as the superannuation fund was managed by a fund manager.
Tudehope said he was in cabinet when there were policy discussions about providing toll relief to motorists, but would not have taken part had he known he owned the shares.
He has written to Perrottet seeking clarification over whether he breached the ministerial code of conduct.
Finance Minister Damien Tudehope has owned shares in tolling giant Transurban for almost a decade.Credit:Oscar Colman
“The premier will make a determination in terms of the material I have put before him,” Tudehope said. “I rely on him to get the proper advice.”
