Ideas or ideology is the supposed debate, but the history of super shows this is a difficult aspiration.
had “geographically mapped” super-owned infrastructure assets around the country and would be reminding federal politicians of the economic benefit provided on “their patch”.While, er, certainly not holding a gun to anyone’s head, Linden continued that “the Treasurer is very mindful of the incredible pool of capital and ways in which there can be constructive engagement” between the funds and the government.
What’s more, they are indulged by governments excited to juice up one-off windfalls by stitching up long-term deals that are deleterious to consumers. described as “anti-competitive and illegal” given the government’s commitment to pay super funds $100 on every container moved through the separate Newcastle port if it ever grew large enough to compete.Though the ACCC lost its Federal Court case , the underlying agreement remains bonkers, or in the words of: “The aim was to maximise the profit from the sale by protecting that monopoly from competition.
But here we have, again, AustralianSuper and IFM, in their $16.2 billion purchase of NSW’s privatised Ausgrid in 2016, where Silk pledged “to manage the asset in a responsible, considered manner over the long term”. Five years later, when AustralianSuper realised it couldn’t cream super-profits out of the heavily regulated asset, it reduced its stake by two-thirds, selling to a Netherlands outfit.
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