Auspol June - Can't Afford the Education to Think of a Witty Thread Title

The Something Awful Forums > Discussion > Debate & Discussion > Auspol June - Can't Afford the Education to Think of a Witty Thread Title

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Lid: Feb 18, 2005; And the mercy seat is awaiting,
And I think my head is burning,
And in a way I'm yearning,
To be done with all this measuring of proof.
An eye for an eye
And a tooth for a tooth,
And anyway I told the truth,
And I'm not afraid to die.

If you've missed Tony Abbott's adventures in the US so far you have missed that while giving a speech he went off the written speech to make a point that the US has nothing to fear from China and should be honoured in the rise of China. This is one of the biggest signs yet, along with joining Harper in trying to torpedo the US's recent major changes to climate policy, that Abbott seems to view the US alliance (minus useless jets) as a hinder and is possibly looking to strengthen ties with China. (The comments being a veiled attempt to court China in opposing climate change policy have not been missed).

This man is going to cause so many international incidents.

# ? Jun 11, 2014 03:33

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# ? Jun 1, 2024 15:46

Gabbleduck: Mar 13, 2011; Three hots an' a cot.

Lid posted:

If you've missed Tony Abbott's adventures in the US so far you have missed that while giving a speech he went off the written speech to make a point that the US has nothing to fear from China and should be honoured in the rise of China. This is one of the biggest signs yet, along with joining Harper in trying to torpedo the US's recent major changes to climate policy, that Abbott seems to view the US alliance (minus useless jets) as a hinder and is possibly looking to strengthen ties with China. (The comments being a veiled attempt to court China in opposing climate change policy have not been missed).

This man is going to cause so many international incidents.

What have any of the other signs been? I haven't been following anything but earlier in the year they were antagonising China.

# ? Jun 11, 2014 03:41

Murodese: Mar 6, 2007; Think you've got what it takes?
We're looking for fine Men & Women to help Protect the Australian Way of Life.

Become part of the Legend. Defence Jobs.

I'm pretty sure if the US declared war on somebody, Tony would be the first to bend and spread.

# ? Jun 11, 2014 03:44

Nibbles!: Jun 26, 2008; TRUMP TRUMP TRUMP

make australia great again as well please

It will be interesting to see how all the Australia pundits who have a hardon for the US alliance take it

They'll ignore it

# ? Jun 11, 2014 03:47

CATTASTIC: Mar 31, 2010; ¯\_(ツ)_/¯

That poo poo will not play well with the US right; China's been their go-to bogeyman for a while now.

https://www.youtube.com/watch?v=JlkLhVo3PbY

https://www.youtube.com/watch?v=iX3n_NsE0N4

# ? Jun 11, 2014 04:01

Gough Suppressant: Nov 14, 2008

Lid posted:

If you've missed Tony Abbott's adventures in the US so far you have missed that while giving a speech he went off the written speech to make a point that the US has nothing to fear from China and should be honoured in the rise of China. This is one of the biggest signs yet, along with joining Harper in trying to torpedo the US's recent major changes to climate policy, that Abbott seems to view the US alliance (minus useless jets) as a hinder and is possibly looking to strengthen ties with China. (The comments being a veiled attempt to court China in opposing climate change policy have not been missed).

This man is going to cause so many international incidents.

No, it's one of the biggest signs yet that Tony Abbott is completely incompetent when it comes to diplomacy. He antagonised China when he called Japan Australia's best friend in asia.

This isn't some master plan to align himself with China over the US, this is Tony Abbott being Tony Abbott.

# ? Jun 11, 2014 04:18

The Before Times: Mar 8, 2014; Once upon a time, I would have thrown you halfway to the moon for a crack like that.

Gough Suppressant posted:

No, it's one of the biggest signs yet that Tony Abbott is completely incompetent when it comes to diplomacy. He antagonised China when he called Japan Australia's best friend in asia.

This isn't some master plan to align himself with China over the US, this is Tony Abbott being Tony Abbott.

Yeah, I see it as a juvenile prod at America rather than an indication of our ties with China.

# ? Jun 11, 2014 04:21

BrosephofArimathea: Jan 31, 2005; I've finally come to grips with the fact that the sky fucking fell.

shalcar posted:

Well, both yes and no on this one. It's not really a tax dodge so much as it is based on the idea of all the other deductions, mainly that your taxable income is your profit for the year.

Except it is a tax dodge, because it ignores the most basic ideas of accounting - that profit is the sum of revenue less the expenses incurred in earning that revenue.

It's akin to a banker taking a casual job at Dominos , never working a shift and then deducting $24k in interest payments on his Audi R8 from taxable income.

I've never read a cogent argument against quarantining 'negative gearing' losses to income produced by that asset.

Nibbles141 posted:

Wasn't the rational behind it to encourage more building too? Instead people bought up inner-city housing.

92% of negative gearing losses are from existing property (as of 2012). If the gub-ment were serious about it 'increasing housing stock', it would be limited to new builds.

But you don't wanna do that, because it would upset the boomers.

shalcar posted:

That was the rationale behind reducing the CGT, yes. At least, that was the publicly issued rationale.

The (public) rationale behind CGT discounting was to encourage longer term, stable investment over short term speculation.

shalcar posted:

CGT is less than the top tax bracket for a good reason as you mentioned, to drive investment from those who have the money to invest by offering them the potential of even more money but at a risk (investment being inherently risky compared to banking your salary) and for the most part it works quite well.

CGT is levied at your marginal rate, not at a lower rate. Unless you are American, in which case the rest of this para is accurate.

BrosephofArimathea fucked around with this message at 04:39 on Jun 11, 2014

# ? Jun 11, 2014 04:32

hambeet: Sep 13, 2002

Gough Suppressant posted:

No, it's one of the biggest signs yet that Tony Abbott is completely incompetent when it comes to diplomacy. He antagonised China when he called Japan Australia's best friend in asia.

This isn't some master plan to align himself with China over the US, this is Tony Abbott being Tony Abbott.

Yeah I was going to post this, if you think Tony Abbott is playing off some foreign diplomacy master sheet and not off the cuff.. well :shrug:

# ? Jun 11, 2014 04:33

Doctor Spaceman: Jul 6, 2010; "Everyone's entitled to their point of view, but that's seriously a weird one."

Crikey posted:

Opposition Leader Bill Shorten has extended his lead as preferred prime minister over Tony Abbott as the government continues its post-budget polling slump, today�s Essential Report shows.

Having taken a one-point lead in May, Shorten now leads Abbott as preferred prime minister, 40%-36%, and has a bigger lead � 8 points � among women than among men (2 points). The Prime Minister�s disapproval rating has increased from 55% to 58%, while his approval rating has remained on 35%. Shorten�s disapproval rating has also increased, from 37% to 40%, but so has his approval rating, from 35% to 38%.

The Coalition�s primary vote has also fallen a point to 37%, its lowest since January 2010, while Labor�s primary vote has reached 40%. The Greens are down a point to 9% and the Palmer United Party is steady on 6%, for a two-party preferred outcome of 54%-46% to Labor, its best since August 2010.

There's a bunch more about opinions on issues and stuff.

# ? Jun 11, 2014 04:34

CrazyTolradi: Oct 2, 2011; It feels so good to be so bad.....at posting.

Those On My Beet posted:

Yeah I was going to post this, if you think Tony Abbott is playing off some foreign diplomacy master sheet and not off the cuff.. well

Yeah, Tony's good at playing popularist politics on the homefront and petty politics here, but global master plotter he isn't. I'm fairly sure he doesn't understand that he's still a small kid in a playground run by a few larger parties who only pay attention to him when they have to.

# ? Jun 11, 2014 04:37

Zenithe: Feb 25, 2013; _{Ask not to whom the Anidavatar belongs; it belongs to thee.}

BrosephofArimathea posted:

Except it is a tax dodge, because it ignores the most basic ideas of accounting - that profit is the sum of revenue less the expenses incurred in earning that revenue.

It's akin to a banker taking a casual job at Dominos , never working a shift and then deducting $24k in interest payments on his Audi R8 from taxable income.

92% of negative gearing losses are from existing property (as of 2012). If the gub-ment were serious about it 'increasing housing stock', it would be limited to new builds.

If there genuinely was an issue with the things negative gearing is supposed to help (which of course there isn't), it would be super easy to fix anyway: Make the tax breaks some form of credit which has to be paid back from the sale of the property, and make it only apply to existing properties.

# ? Jun 11, 2014 04:38

Seagull: Oct 9, 2012; give me a chip

Tony Abbott is a remarkably stupid man, but I'm beginning to think no one has told him.

Did no one in the party just pull him aside at one point and say "hey mate you're a loving idiot so watch what you do out there"?

Surely that's what Credlin is hired for?

# ? Jun 11, 2014 04:40

Seagull: Oct 9, 2012; give me a chip

I can't believe someone this blatantly loving stupid is the leader of one of the most prosperous nations on the planet. Like at least the world's other tories managed to vaguely make something of their privileged position at some of the world's leading universities, did Abbott sit around masturbating instead of going to classes?

# ? Jun 11, 2014 04:43

The Before Times: Mar 8, 2014; Once upon a time, I would have thrown you halfway to the moon for a crack like that.

Captain Pissweak posted:

I can't believe someone this blatantly loving stupid is the leader of one of the most prosperous nations on the planet. Like at least the world's other tories managed to vaguely make something of their privileged position at some of the world's leading universities, did Abbott sit around masturbating instead of going to classes?

At least George Bush can paint.

# ? Jun 11, 2014 04:55

Doctor Spaceman: Jul 6, 2010; "Everyone's entitled to their point of view, but that's seriously a weird one."

Mithranderp posted:

At least George Bush can paint.

George Bush's paintings bear uncanny resemblance ... to Google images

quote:

Art critics point out that 30 portraits of world leaders appear to have been based on photos thrown up by search engine

# ? Jun 11, 2014 04:57

Lid: Feb 18, 2005; And the mercy seat is awaiting,
And I think my head is burning,
And in a way I'm yearning,
To be done with all this measuring of proof.
An eye for an eye
And a tooth for a tooth,
And anyway I told the truth,
And I'm not afraid to die.

http://www.theguardian.com/world/2014/jun/11/tony-abbott-backs-international-moves-to-stop-corporate-tax-avoidance

On phone so can't copy+paste but isn't this in direct opposite contrast to jis local tax policies? (Of which there are none)

# ? Jun 11, 2014 05:00

GoldStandardConure: Jun 11, 2010; I have to kill fast
and mayflies too slow; Pillbug

Captain Pissweak posted:

I can't believe someone this blatantly loving stupid is the leader of one of the most prosperous nations on the planet. Like at least the world's other tories managed to vaguely make something of their privileged position at some of the world's leading universities, did Abbott sit around masturbating instead of going to classes?

No, he just boxed, played rugby and yelled at sick people to get their own medicine, lazy loving bludgers that they are.

# ? Jun 11, 2014 05:01

Doctor Spaceman: Jul 6, 2010; "Everyone's entitled to their point of view, but that's seriously a weird one."

Lid posted:

http://www.theguardian.com/world/2014/jun/11/tony-abbott-backs-international-moves-to-stop-corporate-tax-avoidance

On phone so can't copy+paste but isn't this in direct opposite contrast to jis local tax policies? (Of which there are none)

Nah, Hockey's talked about it as well.

It's partly that they know they need money, and partly that that kind of stuff does hurt Australian businesses (ie their supporter base). It's also hard for them to talk about things like funding an expensive PPL scheme from a corporate tax if the corporate tax sucks at bringing in money.

# ? Jun 11, 2014 05:05

Megillah Gorilla: Sep 22, 2003; If only all of life's problems could be solved by smoking a professor of ancient evil texts.; Bread Liar

Gough Suppressant posted:

No, it's one of the biggest signs yet that Tony Abbott is completely incompetent when it comes to diplomacy. He antagonised China when he called Japan Australia's best friend in asia.

This isn't some master plan to align himself with China over the US, this is Tony Abbott being Tony Abbott.

I'm reminded of the bit from Yes, Prime Minister where Sir Humphrey says "Well, they always say that one Prime Minister's lunch with an ambassador destroys two years of patient diplomacy."

# ? Jun 11, 2014 07:01

Lid: Feb 18, 2005; And the mercy seat is awaiting,
And I think my head is burning,
And in a way I'm yearning,
To be done with all this measuring of proof.
An eye for an eye
And a tooth for a tooth,
And anyway I told the truth,
And I'm not afraid to die.

Gorilla Salad posted:

I'm reminded of the bit from Yes, Prime Minister where Sir Humphrey says "Well, they always say that one Prime Minister's lunch with an ambassador destroys two years of patient diplomacy."

On the other end here's how diplomacy is done that while it continues to antagonise those who won't vote for you shows poise and conviction

quote:

Obama praises Australia's gun control, brings country into US gun debate

Date
June 11, 2014 - 11:58AM

621 reading now

Nick O'Malley
US correspondent for Fairfax Media

Obama prepared to work for gun controls

"Right now, it's not even possible to get even the mildest restrictions through Congress," says US President Barack Obama.

Even as police were still on the scene of yet another American school shooting � the 74th since the massacre of primary school children in Newtown � President Barack Obama praised Australia�s gun laws in an online question and answer session.

�Couple of decades ago, Australia had a mass shooting, similar to Columbine or Newtown. And Australia just said, well, that�s it, we�re not doing, we�re not seeing that again, and basically imposed very severe, tough gun laws, and they haven�t had a mass shooting since,� said the president in a pre-arranged session held to discuss his plans to help cut student debt.

�Our levels of gun violence are off the charts. There�s no advanced, developed country that would put up with this.�

He said he was stunned that Congress had not managed to pass laws on new regulations after the Newtown massacre in 2012.

�Most members of Congress � and I have to say to some degree this is bipartisan � are terrified of the NRA. The combination of, you know, the NRA and gun manufacturers are very well financed and have the capacity to move votes in local elections and congressional elections. And so if you�re running for office right now, that�s where you feel the heat,� he said.

The President�s comments, his most direct since his efforts to pass gun control legislation failed, came hours after a gunman shot dead a 14-year-old student at a junior high school in Oregon.

Mr Obama�s comments were quickly condemned by conservative media. The Washington Times noted that he praised �a country that had outright banned and imposed a mandatory buyback on almost all long guns, including semi-automatic weapons and shotguns".

A comment piece in the National Review Online thundered: �In other words, the President of the United States just praised a government for forcefully removing all semi-automatic firearms (ie. a remarkable number of the guns in America and the majority of those sold today) from its citizenry.

�Let me be clear, as Obama likes to say: You simply cannot praise Australia�s gun laws without praising the country�s mass confiscation program. That is Australia�s law. When the Left says that we should respond to shootings as Australia did, they don�t mean that we should institute background checks on private sales; they mean that they we should ban and confiscate guns. No amount of wooly words can change this. Again, one doesn�t bring up countries that have confiscated firearms as a shining example unless one wishes to push the conversation toward confiscation.�

In the wake of the Newtown massacre gun control activists backed by Mr Obama and Vice-President Joe Biden backed reforms that would have included increased background checks but not widespread bans and buybacks, which are generally considered too radical a move in the United States.

Fairfax Media

Read more: http://www.smh.com.au/world/obama-praises-australias-gun-control-brings-country-into-us-gun-debate-20140611-zs3q5.html#ixzz34J9SrvYk

# ? Jun 11, 2014 07:06

webmeister: Jan 31, 2007; The answer is, mate, because I want to do you slowly. There has to be a bit of sport in this for all of us. In the psychological battle stakes, we are stripped down and ready to go. I want to see those ashen-faced performances; I want more of them. I want to be encouraged. I want to see you squirm.

Captain Pissweak posted:

Tony Abbott is a remarkably stupid man, but I'm beginning to think no one has told him.

Did no one in the party just pull him aside at one point and say "hey mate you're a loving idiot so watch what you do out there"?

Surely that's what Credlin is hired for?

No he's well aware, that's why he speaks at about 30 words per minute. You can almost see the cogs turning in his head as he tries to make sure he doesn't say something stupid (he usually fails).

Also this is quite an interesting summary of Abbott's time at Oxford, basically summed up as "bellowing for Thatcher":
http://www.theguardian.com/world/2013/aug/16/tony-abbott-at-oxford-university

# ? Jun 11, 2014 07:24

ewe2: Jul 1, 2009

Another Crikey bit. We've seen this before.

Crikey tips and rumours posted:

Abbott is hearing voices. While Prime Minister Tony Abbott has been getting quality time with his conservative kindred spirit Stephen Harper in Canada, one tipster has asked why Abbott is rarely seen without an earpiece.

"I've noticed under the Abbott prime ministership that he frequently uses an earpiece on local media, however the last photo in a news.com.au report on his trip to Canada would indicate that he is using one overseas as well. To be fair, it could be for translation -- the Canadian accent can be pretty thick.

"Given the types of questions political leaders are often asked nowadays, it�s probably not reprehensible to have someone feed them some lines and facts as they answer questions. However using one in a press conference with a foreign leader who isn�t also wearing one makes you look like a bit of a dill. I wonder if they will let him use one in the White House Brady Press Room ... One thinks not."

Such depend, wow.

Also Keane has a piece about how white terrorism isn't terrorism - the shooting incident before last was a husband and wife white supremacist team whose spree was specifically racially motivated, and it didn't require a mass surveillance drone-strike waterboarding regime to detect and combat.

# ? Jun 11, 2014 07:54

Cartoon: Jun 20, 2008; poop

webmeister posted:

Also this is quite an interesting summary of Abbott's time at Oxford, basically summed up as "bellowing for Thatcher":
http://www.theguardian.com/world/2013/aug/16/tony-abbott-at-oxford-university

"Abbo". Good god he's declared himself Minister of himself. It all makes some sort of terrible sense now.

# ? Jun 11, 2014 07:54

Gough Suppressant: Nov 14, 2008

ewe2 posted:

Another Crikey bit. We've seen this before.

Such depend, wow.

That photo makes him look even more like agent smith from the matrix

# ? Jun 11, 2014 08:15

Lid: Feb 18, 2005; And the mercy seat is awaiting,
And I think my head is burning,
And in a way I'm yearning,
To be done with all this measuring of proof.
An eye for an eye
And a tooth for a tooth,
And anyway I told the truth,
And I'm not afraid to die.

In local news: deregulate everything we've already privatised

quote:

Australia's media ownership rules ripe for change as government report calls for rethink

Date
June 11, 2014 - 4:40PM

26 reading now

Madeleine Heffernan

The Department of Communications has paved the way for a relaxation of Australia's media ownership laws with a report that calls for a "rethink" on how the industry is regulated.

Repealing the "reach rules" that prevent the Seven, Nine and Ten networks taking over their regional counterparts could "lead to some level of consolidation" in the free-to-air TV sector, but would be "unlikely to result in a substantial reduction in the number of commercial television broadcasters operating in the affected geographical markets", the report states.

In a media briefing on Wednesday, a department spokesman said existing rules had been established in a "different environment".

This follows Hamish McLennan, the chief executive of struggling Ten Network, stating that existing rules were "outdated, ineffective and anti-competitive" and "must be repealed urgently."

"The paper recognises the financial headwinds that Australia's news organisations are facing and which are resulting in heavy job losses in newsrooms across the industry, including at Ten Network, Seven Network and Fairfax Media," Mr McLennan said in a statement.

The department's paper does not make recommendations and notes that the federal government will "consult widely" before developing specific proposals this year.

The 78-page paper says that the existing "two out of three" rule - which prevents any one group from owning a commercial TV broadcast licence, a commercial radio licence and a newspaper licence - does not prevent "some of the more significant hypothetical media transactions".

"It is also relevant to note that while the removal of the two out of three rule would allow for consolidation within the established media platforms, the extent of any actual merger or acquisition activity may be moderated by the broader financial headwinds facing the established media," it said.

Publishing giant News Corp and its half-owned pay TV company Foxtel have been the subject of widespread speculation as a potential suitor for Ten Network.

The media regulator, ACMA, last year indicated it would not object to a bid for Ten by News, but said it would examine all the Australian media assets owned by the Murdoch family.

The latest paper concludes that while "most regulatory frameworks governing media ownership (including Australia) operate at a platform level, changes in the media landscape may necessitate a 'rethink' of how these rules, or new rules should operate."

"At present, there is no consensus on the process through which audiences are influenced or the best tools to measure such a process.

"There is a lack of appropriate data, and no consensus on the best way to measure the level of media plurality in a networked environment.

"This is true of online services, and also subscription television services which are not currently governed by the control rules."

Read more: http://www.smh.com.au/business/medi...l#ixzz34JTYLagk

"queens of the screen orand princes of print, ~~but not both~~"

# ? Jun 11, 2014 08:28

Those On My Left: Jun 25, 2010

Ken Smith has just announced he won't support the expulsion of Geoff Shaw. He's only getting suspended and fined.

# ? Jun 11, 2014 08:34

Ler: Mar 23, 2005; I believe...

#Essential Poll Preferred PM: Abbott 36 (0) Shorten 40 (+3) #auspol

Slab of concrete more popular than Abbott.

# ? Jun 11, 2014 08:34

I would blow Dane Cook: Dec 26, 2008

Less serious STDs more popular than Abbott

# ? Jun 11, 2014 09:06

The Flying Monk: Aug 2, 2013

Jumpingmanjim posted:

Less serious STDs more popular than Abbott

Also less embarrassing and have less long term health consequences.

# ? Jun 11, 2014 09:27

Rob Filter: Jan 19, 2009

Lid posted:

"This follows Hamish McLennan, the chief executive of struggling Ten Network, stating that existing rules were "outdated, ineffective and anti-competitive" and "must be repealed urgently."

That's some fantastic doublespeak right there. This Regulation that ensures competitiveness by preventing monopolies is anti-competitive.

Competition is uncompetitive.

# ? Jun 11, 2014 09:36

Mr Chips: Jun 27, 2007; Whose arse do I have to blow smoke up to get rid of this baby?

Lid posted:

In local news: deregulate everything we've already privatised

"queens of the screen orand princes of print, ~~but not both~~"

Looks like the ROI on News Ltd's campaigning for the Tories is paying off pretty quickly:

- Breaking the Australia Network contract with the ABC so they can give it to Sky News
- Neutering the FTTP NBN to protect Foxtel/Telstra's HFC cable investments
- Changing laws to allow News Ltd to increase its media ownership
- Cutting the ABC's funding to reduce audience competition with News Ltd operations

# ? Jun 11, 2014 09:38

The Before Times: Mar 8, 2014; Once upon a time, I would have thrown you halfway to the moon for a crack like that.

Rob Filter posted:

That's some fantastic doublespeak right there. This Regulation that ensures competitiveness by preventing monopolies is anti-competitive.

Competition is uncompetitive.

Competition is uncompetitive if you don't want to have to compete.

# ? Jun 11, 2014 10:01

VodeAndreas: Apr 30, 2009

Ler posted:

#Essential Poll Preferred PM: Abbott 36 (0) Shorten 40 (+3) #auspol

Slab of concrete more popular than Abbott.

I'm honestly not sure I could identify Bill Shorten from a photo but this still seems correct.

# ? Jun 11, 2014 10:12

Doctor Spaceman: Jul 6, 2010; "Everyone's entitled to their point of view, but that's seriously a weird one."

VodeAndreas posted:

I'm honestly not sure I could identify Bill Shorten from a photo but this still seems correct.

Photos are flat and two-dimensi...

Oh.

# ? Jun 11, 2014 10:13

Gough Suppressant: Nov 14, 2008

It would be far more efficient if we only had one media company. We should select the most efficiently run current media organisation to take on the responsibility of monopoly. All hail the all encompassing ABC.

# ? Jun 11, 2014 10:14

gay picnic defence: Oct 5, 2009; I'M CONCERNED ABOUT A NUMBER OF THINGS

Rob Filter posted:

That's some fantastic doublespeak right there. This Regulation that ensures competitiveness by preventing monopolies is anti-competitive.

Competition is uncompetitive.

These guys would be in favour of a Soviet style centrally planned economy if only they could guarantee they'd be the ones in charge of it. They have to pay lip service to the notions of competition but you can see from the actions of large businesses that the end game is just one or two enormous corporations too big to answer to anyone.

# ? Jun 11, 2014 10:34

Fruity Gordo: Aug 5, 2013; Neurotic, Impotent Rage!

Lol gently caress The ABC. The Stringer and Green Left Weekly can merge and broadcast Living.Black and The Young Ones and John Pilger films all the time.

# ? Jun 11, 2014 10:35

Fruity Gordo: Aug 5, 2013; Neurotic, Impotent Rage!

And that one scene from Monty Python and the Holy Grail where the anarcho-syndicalist peasants get oppressed.

# ? Jun 11, 2014 10:37

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# ? Jun 1, 2024 15:46

Pred1ct: Feb 20, 2004; Burninating

I didn't see this posted yet - Baird want's to sell off 49% of the 'poles and wires' of NSW electricity network.

http://www.smh.com.au/nsw/premier-stakes-reelection-on-partsale-of-electricity-assets-20140610-39vp1.html

quote:

Premier Mike Baird has staked the re-election of the Coalition government on a plan to use $20 billion from the partial sale of the NSW electricity network for projects that will ��transform the state from one end to the other��.

Mr Baird and Deputy Premier and Nationals leader Andrew Stoner announced cabinet approval to take a proposal for the 99-year lease of 49 per cent of the electricity network � the ��poles and wires�� to next year�s election.

The estimated $20 billion proceeds will be used to fund a ��rapid transit�� rail extension of the north-west rail link under Sydney Harbour, through the city and on to Bankstown.

Also funded would be two extensions of the planned WestConnex motorway project � one north, towards Anzac Bridge and another south, towards Sutherland � subject to a feasibility study to be delivered by the end of the year.

A ��schools and hospitals building fund�� worth about $1.4 billion and a $500 million ��sports and cultural fund�� would also be established.

A further $6 billion will be spent in rural and regional areas including about $2.6 billion to set up funds for roads, water, schools and hospitals.

The government hopes leasing the assets will deliver $13 billion, while a further $2 billion will come from the Commonwealth under the asset sales incentive program announced in the federal budget.
Investment of the proceeds into the government�s infrastructure fund, Restart NSW, would reap a further $5 billion over 10 years, Mr Baird said.

Mr Baird and Mr Stoner took the plan to their party rooms on Tuesday, out of which the Nationals demanded that one of the network businesses, Essential Energy, be excluded from the plan.
Essential Energy services electorates in rural and regional NSW held mainly by Nationals MPs, but also some Liberals, who were concerned about potential job losses.

As a result, Mr Baird said a scoping study would be carried out to determine what proportion of the remaining network businesses - Ausgrid, Endeavour Energy and Transgrid - would be leased to the private sector to reach 49 per cent. The study would also establish a retention value for the assets, beneath which they will not be sold.

The remaining 51 per cent would be placed in an independently governed ''NSW Future Fund'' and held against the state's unfunded superannuation obligations.

Mr Baird said the jobs of permanent award employees in the businesses would be ''protected'' and the government would ensure that the privatised businesses charged 1 per cent less than forecast regulated prices until 2019.

The government says the earliest the networks transaction could be completed is during 2016.

Infrastructure NSW will be asked to update the state infrastructure strategy and ''prove up the costings, the profile and the timings of the projects'' by November.

Mr Baird said it was an ''historic'' day, given the unpopularity of selling electricity assets and the difficulty previous governments have encountered formulating similar policies.

''Many have tried and many have failed,'' he said. ''If it comes with political risk I say, bring that risk. Because fighting for what is right for the people of NSW, well that's my job.''

Asked to guarantee the rest of the network would not be sold later, Mr Baird said legislation would include the 51 per cent government ownership. ''So if anyone wants to change or amend that they'll have to come through both houses of parliament''.

Earlier, Opposition Leader John Robertson had condemned the sale, warning the average $1 billion a year the network businesses return to government in dividends will ''disappear''.

''Where's he going to get the money that was paid in dividends from?'' he asked. ''Is he going to sack more teachers, more nurses? Are we doing to see police officers sacked? Or is he going to increase taxes?''

So the 20 billion is actually only 13 billion for the assets, plus what the federal government kicks in and investing the proceeds in NSW's 'infrastructure fund'.

And the government will forgo the 1 billion a year in network dividends.

When will voters learn to tell governments to gently caress off when they try to privatise assets? The new waeslewords are 'asset recycling', watch for more recycling to come. There is now a false equivalence that governments apparently cannot raise money without selling the house.

# ? Jun 11, 2014 10:50

The Something Awful Forums > Discussion > Debate & Discussion > Auspol June - Can't Afford the Education to Think of a Witty Thread Title

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