Telstra and the guillotine
Having taken nearly ten years to sell half of Telstra, the government seems to be in an awful hurry to sell the rest, ramming the necessary legislation through Parliament with almost no debate. Yet it’s clear that they still don’t have a clue about how to sell Telstra for an adequate price, what control they want to exercise in the future or how to implement the policy of structural separation.
It’s hard to avoid the conclusion that this resort to the guillotine was not due to any particular urgency about this legislation. Rather the government had the numbers and couldn’t resist using them. This is a bad sign for the future, both for Australia and the government. Such hubris generally turns out badly for all concerned.