From the AFR:
Communications minister Malcolm Turnbull has ruled out privatising Australia Post as he said the service needed to cut back five-day a week mail delivery, increase postage rates and expand into government services such as Centrelink and Medicare, as part of changes to avoid a “sea of red ink and ultimately ruin”.
…Mr Turnbull released a report by Boston Consulting Group that finds without big changes, Australia Post will lose a net $6 billion over the next decade.
…Mr Turnbull ruled out privatising Australia Post, saying “if the profitable parcels business were to be spun off, who is left to pick up the tab for the retail network and the declining letters business?’’
“Getting a privatisation cheque on one hand and a continuing and growing claim on government subsidies in the other is not very appealing,’’ he said.
Sensible enough. The community service obligation of this natural monopoly means it really can’t be privatised anyway unless you want a private operator to charge the bush $10 for a stamp.
