Note: Where available, the PDF/Word icon below is provided to view the complete and fully formatted document
Labor's economic rationalists are floundering: Moore



Download PDFDownload PDF

COMMONWEALTH PARLIAMENTARY LIC,;A Y C. I. s.

r

w

< w hJ

s Pti

JOHN MOORE MP SHADOW MINISTER FOR

BUSINESS and CONSUMER AFFAIRS LABOR’S ECONOMIC RATIONALISTS ARE FLOUNDERING; MOORE

The Labor Party have now been in office for over five years and have yet to reveal their policy on the privatisation of government assets, said Mr Moore today Shadow spokesman responsible for privatisation.

"Where are the economic gurus Hawke, Keating, Walsh and Evans, why aren't they speaking up on the issue.

"I challenge any one of them to advance a single economic argument to support the continued government ownership of banks, airlines, or shipping lines.

"Surely their collective understanding of economic issues allows them to see the substantial benefits which flow from a sensible approach to asset sales.

"By contrast the Federal Opposition has prepared a thorough policy on privatisation which addresses all the issues and satisfies the common concerns which have been raised by the most scathing critics of government assets sales.

"Central to ray proposal will be the use of special or "golden" shares which allow the 100% sale of an asset yet provide the government with certain veto powers.

"This may include the power to monitor and enforce the extent to which any one investor may hold an interest in a particular asset or it may limit the extent of foreign ownership in a strategic asset, indeed a special share can achieve almost any legitimate objective of government.

"Importantly the special share arrangement „does not allow government day to day control of a privatised enterprise this critical proviso makes it acceptable to the market place.

"The Coalition is well down the track on privatisation and has completed a thorough investigation of available methods of sale and the the optimum methods of marketing such a sale program.

"Privatisation provides benefits to taxpayers, . consumers, small investors and affected employees.

"In the current environment of supposedly lean public administration governments have a clear mandate to dispose of under performing non core assets.

"The Coalition has shown the way on this issue and we now call on the Government to urgently assess the critical capital position of our largest enterprises.

26 JULY 1988 BRISBANE 07 371 0644

CANBERRA 062 774135