- Joined
- 10 December 2012
- Posts
- 3,632
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- 9
Over the past 25 or so years we have effectively outsourced pretty much everything to "the market".
First it was big things like aviation and power. Now we're down to WA selling the street lights (yes really) and Tas doing some dodgy "no need for a tender" deal to outsource the traffic lights. That's scraping the bottom of the barrel stuff surely.
What is the (insert policy area here) of Australia or of any particular state? That's up to the market to decide.
The trouble with all this is that markets focus on what's good for the individual, they don't focus on what's good for the nation in the long term. You can't even fly from one city to another these days without paying monopoly rent to the private owner of the relevant airports - and they are indeed in the rent seeking business when you look at how much money they're making simply having planes take off and land on their property.
Even policy seems to have been outsourced. Before doing anything Governments get industry insiders to run a review and then provide options for reform.
PPPs using expensive private sector debt instead of Government building the assets and selling 30+ year bonds to hungry pension funds desperate for yield paid off with tolls that pay off the debt over the economic life of the asset. We could be filling the demand gap by renewing our crumbling infrastructure, but debt is such a bad word these days.
In NSW the Govt has done a deal with AGL to provide pensioner energy plans. No open tender, no talking to other providers. Packers gets a free casino license, then gets to overbuild even more to make his project economic.
That song from 89 was oh so true
I've no excuse
I just want you to use me
(Use me)
Take me and abuse me
I got no taboos
I'll make a trade with you
(With you)
I'll do anything you want me to
Money talks
(You know)
Money talks
Dirty cash
I want you
Dirty cash
I need you, oh
I wasn't right
And now I'm so behind
I want to get rich quick
I want success
And all that goes with it
And I'm gonna use myself
I want your money
I need you money
Dirty cash I want you
I want your money
I need you money
Ooh