Government prepares Qantas liberation

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From the AFR:

After The Australian Financial Review reported lifting the act was the long-term option being considered by the Coalition, Treasurer Joe Hockey revealed preparations were well advanced ahead of a cabinet discussion on Qantas some time after February 27.

…The government would not ­elaborate on what changes were being proposed to the 1992 law which placed a regulatory burden on Qantas as a ­condition of it being privatised.

One source said a series of options concerning the act, ranging from relaxing restrictions on foreign ownership to abolishing the act altogether, were being prepared. This did not mean the ­government would put something to Parliament any time soon.

Any move to soften or repeal the law would not pass the current Senate and would struggle to pass the new Senate which sits on July 1.

We don’t even know who will control the Senate yet. Perhaps Qantas should run a candidate in the West.

Houses and Holes

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal.

He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.

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