Over many years, Australian Competition and Consumer Commission (ACCC) head, Rod Sims, has issued a spate of warnings about, and voiced opposition to, various asset privatisations being undertaken by governments across the nation.
In particular, Sims accused state and federal governments of using privatisation to increase taxes by stealth by selling public assets and businesses at inflated prices on terms that allow the new monopoly owners to gouge customers. Sims has also called for a moratorium on future privatisations because of the damage caused to consumers and the economy.
Today, Rod Sims has used the sale of the Port of Newcastle as an example of how privatisations have been done poorly and are harming the economy.
