Cormann: Australia Post Not For Sale

The embattled and rattled post budget Federal Government has promised not to sell Australia Post, according to Finance Minister Mathias Cormann.

The Government still plans to sell the lucrative Medibank Private, which is estimated to be worth about $4 billion, and has commissioned studies with the intent of selling the Royal Australian Mint and Defence Housing Australia.

In budget estimates today, Senator Conman, the brains behing the Hockey budget disaster, outlined several agencies that would not be privatised.

"We've decided not to proceed with the sale of the ASC we've decided not to proceed with the sale of Australia Post," he said.