UBS note causes political spat

Labor says Australia's NSW Premier Mike Baird needs to say whether his office offered any 'inducements' to investment bank UBS before the firm allegedly watered down a potentially damaging report on his electricity privatisation plans.

Sky News reports that it's been reported the 14-page document titled 'Bad for the budget, good for the state' was sent to investors this week but quickly reissued with a title simply saying 'Good for the state'.

The reissue also included an addendum outlining 'additional benefits to the state' generated by the planned 49% lease of poles and wires.

To access the complete Sky News article hit the link below:

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