A good read.
Image courtesy of theaustralian.com.au
Let’s get real here and start talking facts. Cold hard incontrovertible facts.
I have already outlined the truth of the situation in, Facts speak for themselves, Australia still lucky country. Now to get into the details.
$44 billion worth of net assets were inherited by the Labor Government in 2007 from John Howard’s Liberal Government.
This is after a strong period of economic growth and private investment following the dot com crash, from 2002 to 2007. Not to mention, ever surging commodity prices and resources demand, mainly from a booming China.
$70 billion of government owned assets were sold off under by Treasurer Costello, most of them at bargain basement rates. Incidentally, as an aside, he now wants the Queensland Government to engage in such reckless practices.
This means the net assets on the books (63% of the overall cash generated from asset sales) were as a result of…
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