The chairman of the Australian Consumer and Competition Commission, Rod Sims, has told the Financial Review that if Australia is to become a more productive economy, government ownership of some key assets such as Australia Post, Medibank Private and state-owned energy companies must cease.
Sims said the Government’s review of competition would go deeper than many expect and that:
Of all the reviews going on, this will be the most important because it will be removing impediments to competition right across the economy…Government ownership versus private ownership massively affects the incentives people have to drive productivity change
Sims is convinced that energy prices, “particularly in NSW and Queensland, would now be lower had the private sector owned those network business rather than them staying in the pubic sector.”
You can read more here
NOW WATCH: Money & Markets videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.