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Morrison divestment powers thought bubble a fair dinkum debacle



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CHRIS BOWEN MP

SHADOW TREASURER

SHADOW MINISTER FOR SMALL BUSINESS

MEMBER FOR MCMAHON

THE HON MARK BUTLER MP

SHADOW MINISTER CLIMATE CHANGE AND ENERGY

MEMBER FOR PORT ADELAIDE

MORRISON DIVESTMENT POWERS THOUGHT BUBBLE A FAIR DINKUM

DEBACLE

It’s just another day in paradise when Scott Morrison’s latest energy policy thought

bubble on divestment powers - a policy not supported by the competition regulator

- gives rise to significant constitutional questions and concerns.

It’s completely unsurprising to see legal and constitutional questions being asked

about Scott Morrison’s ministerial divestment powers given it is policy on the run

without any sort of report or evidence base.

Undermining investor confidence with this sort of extreme intervention is more

likely to put upward pressure on energy prices than cut them.

Significant stakeholders are calling the Liberal Party out for this extreme policy

intervention - the question is will the Liberal Party backbench forget its free market

heritage and run dead on this concerning policy.

The Australia Energy Council has submitted to the Government’s consultation

process that it has “concerns about the framing and constitutionality of the

Treasurer’s remedies” and that the divestiture power is an “extraordinary and

invasive power”.

Infrastructure Partnerships Australia has called on the Liberal Party to “pause

consideration” on its latest energy policy, while stating that the Government’s

approach was “exacerbating the challenges in attracting investment into new

electricity generators”.

The Chair of the ACCC Rod Sims, the competition regulator, said a few weeks ago

he first read about Scott Morrison’s divestiture powers thought bubble in the

newspaper.

The Liberal Party is more interested in thought bubbles than landing sensible,

bipartisan energy policy - and Australian households and businesses are the ones

paying for it.

TUESDAY, 13 NOVEMBER 2018

MEDIA CONTACT: JAMES CULLEN (BOWEN) 0409 719 879

LUCY CARUSO (BUTLER) 0408 803 428