The AFR has a nice story today illustrating the death of Australia:
The Turnbull government’s strained relationship with corporate Australia has come under more duress following some heated exchanges between the Prime Minister and the nation’s leading chief executives at a private dinner in Sydney on Monday night.
…The dinner was attended by board members of the Business Council of Australia – president Grant King, chief executive Jennifer Westacott, Richard Goyder, Ian Narev and Catherine Tanna. Other CEOs and BCA members included the ANZ’s Shayne Elliott and BHP’s Andrew Mackenzie. The dinner was held in the board room of Sydney law firm King & Wood Mallesons.
One source said Mr Turnbull, who handed over $1.8 million of his own money to help the cash-strapped Liberal Party get through the 2016 election campaign, prevailed upon corporate Australia to help out more.
…Another source said…”There hasn’t been support for big business why would we support the government on anything?”
There was universal support for the company tax cuts and a reaffirmation from business that the government must persist with trying to legislate the reminder of its plan which, by 2026-27, would deliver a company tax rate of 25 per cent for all corporations.
…Mr Turnbull’s attempts to reforms energy policy were also discussed at length.
“He’s looking for a way through. Business wants to be part of the solution, particularly on energy.”As a former treasurer of the Liberal Party, Mr Turnbull knows how hard it is to get money out of donors, he said.
“They have got to have something to invest in. It’s not like here’s our money and we’re going to back you.”
I’m not sure why this is not viewed as open corruption but there you have it. Two of the bank CEOs that are enjoying world class rents as all policy supports house prices at every turn. And no less than three key architects of the east coast gas cartel that is plundering the entire east coast economy, dining with the PM as he berates them over failing to donate to himself.
Nice work if you can get it.
