The energy crisis should be a wake-up call. For many decades we have been led down the path of privatisation with the promise of competition and lower prices. Realistically, privatisation is a means of enhancing the short-term economic management credentials of self-serving politicians.
Due to take-overs and mergers, monopolies have become more powerful. Some of our major businesses are under the control of overseas corporations paying minimal tax and some are employing overseas workers instead of Australians. Several are subject to inquiries for dubious business practices.
For Australians, this has created a greater divide between the rich and poor. It has resulted in less full-time employment, lower wages, higher cost of living, less home ownership and a general slowdown in the economy due to less disposable income.
We need the return of public companies such as banking, insurance, energy, transport, and postal etc, employing Australian workers. This would provide true competition and improve corporate behaviour. It would eliminate the obscene CEO salary packages.
What if all taxes were removed from fuel and energy? The cost of transport and manufacturing would be much lower. The loss of revenue would be recouped through the return of manufacturing, greater employment, less social security, a more fluid circulation of money due to lower cost of living and, along with tougher restrictions on foreign ownership, housing would be more affordable. Goods manufactured in Australia to Australian standards would be repairable and longer lasting thus reducing the landfill burden and, more employment would be generated in the associated service and skills training industries.
Note: This letter was compiled over the weekend of December 2-3. On December 4, Ray Williams made comment on privatisation. Good to see such an esteemed journalist has similar concerns. Perhaps a movement of two?