Wednesday, 27 July 2016

Media article - Head of the Australian Competition and Consumer Commission - " Privatisation has damaged the economy "

http://www.smh.com.au/business/privatisation-has-damaged-the-economy-says-accc-chief-20160726-gqe2c2.html
The article quotes the Head of the Australian Governments Competition and Consumer Commission Mr Simms as saying -
" The sale of ports and electricity infrastructure and the opening of vocational education to private companies had caused him and the public to lose faith in privatisation and deregulation.”
“Selling public assets has created unregulated monopolies that hurt productivity and damage the economy”
"I'm now almost at the point of opposing privatisation because it's been done to boost proceeds “  
“ It's been done to boost asset sales and I think it's severely damaging our economy."
The article is well worth reading and passing on, it supports many of the issues and arguments, opponents of privatisation have used in the past, but having it from such a high powered public servant as head of the Australian Governments Competition and Consumer Commission - adds another dimension – Greg McLean