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September 8, 2008
Michael Costa, the former Treasurer of Iemma Government in NSW gave a press conference in which he stated that NSW faced an imminent recession through a rapidly contracting economy, plummeting stamp duty revenues, a blow-out in the health budget, unsustainable capital works commitments particularly the north-west metro and unaddressed public sector reform.
Moir
Costa and Iemma had argued that electricity privatisation was absolutely necessary as it was their only means to salvage the state's dire financial position and fund the required infrastructure investment. The June Budget stated that the capital works budget was not contingent on proceeds from the sale of the generators and the retailers.
Iemma and Costa may have gone---political roadkill?--- but most of the ministers in the ex- Iemma Government remain in the Nathan Rees' Labor Government. So it is the same tired incompetent government with a some fresh faces. Shuffling the deckchairs is merely a stay of execution. The expectation is that there will be no service reforms from this government, which will continue to live in a bubble.
What we see is the failure of both the market driven small government politics that pays lip service to the fair go but has little time for equality since that makes markets inefficient and sticking it to the inner city elites who look down on ordinary people. That politics means that business dominates NSW politics and the public are left out of trickle down economics in terms of good public services. Hence the public resentment.
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Gary
I thought that the politics of resentment was the strategy of the angry right?