KEY POINTS:
The sale of Medibank Private, approved by Parliament yesterday, will strengthen the private health insurance industry, Prime Minister John Howard says.
The Senate yesterday passed the Medibank Private Sale Bill 2006, expected to reap up to A$2 billion ($2.3 billion) to the Government.
The Government hopes to sell Australia's largest health insurer in a public float in 2008, after the next federal election.
Labor remains opposed to the sale and has promised to halt the privatisation if elected next year.
- AAP
