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The NSW Coalition has sold 50.4% of the publicly-owned power distribution network Ausgrid to a consortium of AustralianSuper and IFM Investors. It is spinning it as a "win" for the mums and dads. The reality is otherwise. Without public ownership of energy, we have very little chance of moving swiftly to more sustainable options, as the climate science demands.
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The NSW government is preparing to sell off the NSW land titles registry, the Land and Property Information (LPI) office, in a move dubbed by one economics commentator as “another dumb privatisation”.
Local and overseas banks, insurance companies and superannuation funds are said to be among potential buyers of the registry, which is expected to fetch more than $700 million.
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Australia's Big Four banks — the Commonwealth, NAB, ANZ and Westpac — are the most concentrated and profitable set of banks in the world. These mega-banks are cutting their workforces, while paying their executives huge salaries and bonuses. They should be placed in public hands.
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Jim McIlroy
Jim McIlroy