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Are we now cookie-cutting morons in our political parties?
Energy Minister Chris Bowen has left the door open to an audacious union proposal to create cheap subsidised power for Australia’s struggling manufacturing and metals smelting businesses by nationalising a large chunk of the electricity grid.
The multibillion-dollar proposal by the Electrical Trades Union is designed to directly address the power cost pressures facing Australia’s heavy industrial sector, which have forced governments into a series of ad hoc rescue packages over the past two years.
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About the author
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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