On the eve of a failed attempt to privatise power in Australia's largest state, news broke that 800 Australian companies may face charges over secret political donations. In a vote of 702-107 the plan to privatise the electricity generation was dismissed
by the party delegates.
The privatisation of the power and donations may not be related. Several members of the same political party have been in hot water over cash for permits deals with real estate developers. Various privately funded toll roads and tunnels have received strong
government support to the extent of turning major multilane highways into a single lane and closing roads completely to force drivers to travel the new toll routes.
Business as usual in Oz. Cash only please.
© Finextra Research 2014