ACCC Chairperson Rod Sims

Privatisation continues to be touted as a quick fix, so the mantra goes “public sector bad, private sector good”. That is, using community funds and resources to build up a vital service or piece of infrastructure, usually over a period of many years, then when there is a “budget crisis” selling it off to yield a quick cash injection and the removal of an expense from the ledger — regardless of whether it is generating income or not — while giving sweetheart deals to the new owners to ensure monopoly-like conditions to maximise their profits.
Subscribe to ACCC Chairperson Rod Sims