Register  
Snowy Hydro not for sale
Friday, 2 June 2006 12:21pm

The Prime Minister has announced today that the plan to privatise the Snowy Hydro has been shelved amid massive public outrage.

With the Commonwealth withdrawing its backing NSW Premier Morris Iemma said the deal was almost impossible to proceed with. The plan to privatise Snowy Hydro had received huge media coverage and was expected to easily achieve a full subscription on its initial public offering (IPO).

Prime Minister Howard said the government was now opposed to the sale. "The decision to sell has created a lot of unhappiness in the Australian community, right across the political spectrum,'' Mr Howard told the Sydney Morning Herald.

"I am not such a zealot about privatisation that you sell everything under the sun irrespective of the circumstances.''
NSW Premier Iemma said the Commonwealth's decision made it too impractical to continue with his plans to privatise the Snowy Hydro, though he still stood behind the proposal.

Blogs
Follow the industry experts.
Christopher Page
Christopher Page
Managing Director

The age of SMSFs
The growth of the number and volume of self-managed super funds (SMSFs) seems to have no end. As the sector reaches the one million ...read more
 
Benjamin Ong
Benjamin Ong
Chief Economist

Reflation, rotation and the taper
'Tis being my final type (drivel, to some gentle readers) for the year, we'll take a look back at the 2013 that was to seek the lessons ... read more
 
Alex Dunnin
Alex Dunnin
Director of Research & Editorial Services

BRUMBIE: Walk quietly but carry a big stick
It's now a few weeks since Financial System Inquiry (FSI) chief David Murray handed down his interim report and already sectional advance ... read more
News Search   
VideoBrought to you by
Who wants to be a RockStar 2014 Highlights
Count's Chris Mekhail was crowned 2014 Rockstar this year for his soaring rendition of Swedish House Mafia hit 'Don't You Worry Child' at the annual Who wants to be a RockStar event organised by the Finance ... Watch video
Claims Management
Is the industry doing enough to engage employers in relation to their role in the claims process? Comments by: Annette Torrington -CommInsure, Pauline Vamos - Association of Superannuation Funds Australia ... Watch video
Member Awareness
Lawyer involvement in the claim assessment stage can lead to the member being financially worse off and increases claims administration costs. What can be done to reduce lawyer involvement in the claim ... Watch video
AMP Capital Australian Equity Concentrated Fund
We invite you to watch our latest video program on FSiTV featuring AMP Capital's Co-Head of Australian Fundamental Equities Gian Pandit, as interviewed by Mark Smith, deputy editor of Financial Standard. In ... Watch video
Platinum Asset Management
Reflecting on more than three decades in the industry, Platinum Asset Management managing director Kerr Neilson says one of the changes in the industry has the been the erosion of the information advantage ... Watch video
MAX 2014 Highlights
The annual MAX forum places all the movers and shakers in financial services when it comes to sales, marketing and distribution. Find out the recipe of those who are taking the lead. Watch the video n ... Watch video
Get it
Daily
FREE to your inbox, get the Financial Standard Daily Email.
Get the Free
iPad app
Download the Financial Standard iPad app for FREE
Industry
Events
AUG
21
AUG
26
Best Practice Forum: Managed Accounts
SEP
10
Risk and Liquidity Forum
11
Liability Driven Investing Forum
OCT
07
Major Market Players Symposium
15
Investment Performance Measurement, Attribution & Risk Management
News
Bites
Advertisement

$245 (inc GST) for 1 year
 
 
Copyright © 1992-2014 Rainmaker Group
All material on this site is subject to copyright. All rights reserved. No part of this material may be reproduced, translated, transmitted, framed or stored in a retrieval system for public or private use without the written permission of the publisher.
Link to something VWlofdcH