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Transparency, independence and good decisions grow together
The Reserve Bank is breaking records. For the first time in history, interest rates rose during a federal election campaign. One month later, after a change of Government it has now announced that it will publish the minutes of its monthly Board meetings. The move is welcome. It is a further step towards ensuring that the decisions made by the Board are made on the basis of evidence and principle rather than interest and influence. This greater transparency will make it more difficult for the Government to influence the Bank's decisions on the one hand or interpret them according to its own spin on the other. The first released minutes, of the November meeting, was quite unequivocal in its criticism of the Government's fiscal policy as well as the campaign spending of both parties. < Click for more> |
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Bernie Banton: it was never about him!
 From his death bed Bernie Banton went for James Hardie again. Despite the fact that Mr. Banton received $800,000 as an out-of-court settlement from James Hardie in 2000, he took up the campaign for other actual and potential asbestosis sufferers when it became apparent in 2003 that Hardie's restructuring and move off-shore in 2001 had cut ties with the compensation fund it established, leaving it with an estimated $1.5 billion shortfall. < Click for more> |
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Gaol terms for criminal offences
The Labor Government has promised to return to the issue of gaol terms for cartel offences. The move comes as part of its election promise to watch petrol prices and will only be applied to serious cartel convictions within the oil business and petrol retailing as well as food, clothing and a range of consumer goods. The question remains, however, why target only some sectors?
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The bottom line is broader than we thought
 The landslide shift to Labor in the Federal elections provide a useful reminder that it is a mistake to draw too sharp an opposition between the economic bottom-line and ethical behaviour. The political orthodoxies that Australians only change government when the economy is struggling and that what swings votes is the hip-pocket nerve have proven to be fallible and, with them, the proposition that money is the only real bottom line.
John Sweeney < Click for more> |
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