Labour! You never fail to amaze! You complain the Free Market is bad, yet when the Government steps in to prevent a monopoly being handed to overseas interests you dance the Can Can! Chris Bowen - opposition treasurer, tell me why is it good for Australias national interest to sell your MONOPOLY grain handler? Please explain, rather than just call it weak & make a lot of noise about lost investment. (There is nothing to stop further investment, it is a matter of control). The sale of Graincorp would have left only 5 wheat ports under Australian ownership, mainly in WA, with 14 under foreign ownership. This is strategic, one of a kind, key stone infrastructure. Where is the sense in selling that? For example lets say Australias grain growers wanted to increase capacity, these decisions would now be made overseas and with consideration to, in this case, ADMs overseas ie. US (our major competitor) assets. Suppose our grain is superior and is sought after by the Middle East yet excess capacity exists in the US . What is the likely outcome??? As for the 250 million for infrastructure spending? To put things into perspective a growers combine harvester cost 1/2 million...so really a drop in the bucket... Hockey made the right economic decision and although it interferes with the free market and what should be basic liberal philosophy it demonstrates a sensible flexibility to judge each case on its merits and not be a prisoner to political dogma - how decisions of government should be made. Parallels with Qantas do not exist, the situation within the industry is completely different and I would be happy to see the government take the opposite stance and allow foreign investment restrictions in this innefficient, sub standard, union run piece of sentimentalia to finally get it up to scratch.
Posted on: Fri, 29 Nov 2013 06:44:32 +0000
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