Privatisation needs checks and balances: Bernardi

July 06, 2018

With state governments around the country looking at selling off more state-owned assets, the debate about privatisation has surfaced again.

Conservative Party leader Cory Bernardi has made his position clear.

The sale of the electricity network’s poles and wires in South Australia two decades ago has cost the state up to $2 billion as power prices continue to rocket, according to a damning report on privatisation.

Economist John Quiggin says that since the sell-off, earnings had increased “at a real rate of two to three per cent per year”, which he had predicted in 1998, the year before it was sold.

The $3.5 billion sale was a hugely controversial and unpopular move which is being repeated in New South Wales.

Senator Bernardi has told Sydney radio station 2GB, in most cases, privatisation is a good thing, provided there are checks and balances along with competition.

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