Privatisation ruled out for Australia Post
After much speculation Australia Post would be amongst the many public entities sold off in the Abbott government’s budget sale, Finance Minister Mathias Cormann announced yesterday that the vital service would not be sold.
“We have decided not to proceed with the sale of Australia Post,” Senator Cormann told Senate estimates on Wednesday. “We have [also] decided not to proceed with the sale of ASC [formerly the Australian Submarine Corporation].”
The Australian Competition and Consumer Commission chairman and the government’s Commission of Audit both recommended the privatisation of Australia Post along with Snowy Hydro, the National Electricity Market, Australian Hearing, the Defence Housing Authority, and the Australia Submarine Corporation.
The news is welcomed by regional and rural communities as privatisation could see the end of costly postal deliveries to these areas.