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Coalition governments will spread share ownership widely



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JULIAN BEALE, M.H.R. Federal Member for Bruce Shadow Minister for Privatisation

M E D IA R E L E A S E

COALITION GOVERNMENTS WILL SPREAD SHARE OWNERSHIP WIDELY

Federal and State Coalition Governments will turn Australia into a nation of stakeholders, the Federal Member for Bruce and Shadow Minister for Privatisation, Julian Beale, said today.

Millions of Australians will become share owners in Australian industry and services for the first time.

The process begins on a large scale with the privatisation of the NSW Government Insurance Office.

The floating of GIO shares is expected to attract over $1,000 million of investment from the public.

Hundreds of thousands of Australian citizens are expected to consider buying into the float.

Many of these will never have been share owners before.

The NSW Government is deliberately designing the GIO float to attract the widest possible range of individual shareholders.

This is a big step forward for the Australian economy and the economic education of Australian society.

The privatisation of Government Business Enterprises takes power from the bureaucracy, gives ownership to the people and makes Australia a fairer society.

22 March 1992 22/92

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