Tag: Business

INLAND RAILWAY- POLITICS OF DISASTER

On By Everald ComptonIn Elections, Government, Infrastructure Rail, Air, Sea3 Comments

Back in the days of his prime, Barnaby Joyce announced that the Coalition Government had allocated 9.5 billion dollars for the construction of the Inland Railway.

He had demanded this from Malcolm Turnbull as the price for National Party cooperation at the time of Turnbull’s coup to topple Abbott.

Turnbull reluctantly agreed, but insisted that it had to be funded ‘off balance sheet’, ie, not taken from general taxpayer revenue in the next Budget, but funded by loans to be taken out by the Federal Government’s own railway company, ARTC (Australian Rail Track Corporation) against its balance sheet. Future revenue would pay back the loans.

This was mentioned only in the fine print of the public announcement. Most voters think it is being funded by regular government grants.

In other words, Barnaby Joyce proceeded with the project without allocating one cent of government funds to it. This means that his in-depth commitment to it has been Nil. It was simply a vote getting stunt. Continue reading “INLAND RAILWAY- POLITICS OF DISASTER” →

TRUST FADES AWAY

On By Everald ComptonIn Business and Enterprise, Community and Values, Government, religion, Seniors8 Comments

The Royal Commission on Banking has stirred Australians to the very core of our being.

It has convinced us that TRUST no longer exists in our nation. Our sense of security is severely diminished, particularly among Senior Australians.

This is understandable as, once upon a time, our local bank manager was a highly respected citizen. He was trusted to give solid advice and not give us loans we had no hope of paying back or credit cards we do not really need.

He was also heavily involved in community life in a high profile way.

Then, he disappeared from public view.

Now, it is almost impossible to find a local bank manager even if we go to a bank. We enter an atmosphere where the message is that they don’t want us there. We must phone a ‘friendly’ relationship manager whom we track down after have pressed about a dozen buttons. We get a different person every time we call and she is only interested in our number, not our name.

It’s very sad that this grand old asset of Australian life has passed away, a killer culture having replaced it. Continue reading “TRUST FADES AWAY” →