Independent MP Rob Oakeshott has called for the Commonwealth Government to sell Medibank Private, which was last proposed by the Howard Government in 2006, and which could raise around $4 billion:

Oakeshott calls for Medibank Private sale

Unfortunately it isn’t clear who exactly owns Medibank Private. If it managed to arrange the sale, it appears the Government wouldn’t be entitled to the full sale proceeds and would have to share them with Medibank Private members. In a note regarding the Howard Government’s proposed sale of Medibank Private in 2006, the Parliamentary Library (The proposed sale of Medibank Private: historical, legal and policy perspectives) noted:

while the government clearly ‘owns’ Medibank Private Limited (the managing organisation of the Medibank Private fund) the fund itself is best characterised as a government controlled not-for-profit entity (not strictly owned by either the Commonwealth or the fund members)…

…members of the fund nevertheless have certain rights to the benefit of the fund and associated assets and these rights need to be considered in any scheme for the sale of Medibank Private

The Fraser Government was obviously very poorly advised when it set up Medibank Private in 1976. I expect Oakeshott’s proposed Medibank Private sale will be put in the too hard basket.