His solutions are wrong, but it’s a good sign when even Rupert Murdoch is worried about inequality

It would be a mistake to dismiss Murdoch’s concerns about inequality as nothing more than self-interest. It’s a victory for advocates of regulated markets.

By

First published at The Guardian, Tuesday 28 October 2014 16.00 AEST

Rupert Murdoch

‘I’m sure Murdoch truly believes that the suggestions he made to the G20 finance ministers would really create a better world.’ Photograph: Jason Reed/Reuters

Rupert Murdoch has highlighted growing inequality in a post-dinner speech to G20 finance ministers in Washington. Warning that developed countries’ responses to the financial crisis of 2008 have increased the gap between rich and poor, Murdoch says a global reckoning is approaching unless business investment and innovation are freed up.

He suggests that to solve growing inequality and stagnating economies governments need to “get out of the way”. We need labour market reform and lower corporate taxes, the media mogul suggested, perhaps unsurprisingly. He added that tax avoidance by companies like Google should be policed more heavily. Never mind that these companies happen to be giving him a headache by disrupting News Corporation’s business model.

That said, it would be a giant mistake to dismiss all that Murdoch has to say as nothing more than self-interest, wrapped in a fig leaf of concern for his fellow humans.

If you want to understand the Murdochs of this world then read Ayn Rand’s book Atlas Shrugged. She has a quiet cult following among those who run the world, who just want great people to be able to do great things. In Rand’s world, those with talent who are allowed to use it freely, unencumbered by regulation and bureaucracy, will benefit us all.

It’s a compelling, if naïve, picture; unregulated markets cannot discriminate between greatness and power. The heroes and heroines of Rand’s books are paragons of integrity – trusting them to use their wealth and power to do great things is a no-brainer. But as John Steinbeck wrote in Cannery Row, in our system as it really exists, “those traits we detest – sharpness, greed, acquisitiveness, meanness, egotism and self-interest – are the traits of success”.

Rand’s fictional champions would be stomped all over by ruthless power-seekers and empire-builders in a truly laissez-faire economy. Markets are social constructs. They only operate effectively when there are rules in place and institutions to enforce those rules – typically government institutions. The more government gets out of the way, the more power accrues to money because those with wealth and power have the means to gain greater wealth and power.

As Thomas Piketty demonstrated so beautifully, wealth is like a magnet attracting more wealth. Only government intervention, revolution and war interrupts this ratchet of wealth and power accumulating to wealth and power. So if Murdoch’s concern about inequality is genuine, he should examine the evidence regarding inequality and government policy.

In the developed world the standout performers, with high standards of living and low levels of inequality, are all in far northern Europe. These countries loosely share a social and economic system called the Nordic model and have very large government sectors. Sweden and Denmark take around 45% of GDP in taxes.

At the other end of the scale sits the US, with one of the highest levels of inequality in the OECD alongside very low equality of opportunity. The US has very low levels of tax as a proportion of GDP and consequently a relatively small government sector. While the US is far from a laissez-faire economy, it’s much closer than many others, particularly the Nordic countries.

If we appeal to the evidence, rather than to ideology, we find that Murdoch’s primary solution to inequality would very likely exacerbate the problem. It’s standard fare for the proponents of free markets and small governments to use the Eurozone to build a straw man argument about high taxing, high welfare states being a failure. What they never do is bring up the social democracies of northern Europe, because their success undermines the entire small government philosophy.

I have no doubt that Murdoch considers himself to be like one of Rand’s heroes. He’s a great businessman and a symbol of success in the system in which he operates. I’m also sure he truly believes that the suggestions he made to the G20 finance ministers would really create a better world. He must, because that belief has underpinned the growth of his business empire.

This is why his prescriptions for saving the world align so well with the interests of News Corporation. It’s not that he’s intentionally feathering his own nest, it’s just an illustration of how ideology, including ethics, aligns with action.

Nonetheless, that Murdoch feels the need to speak out about inequality does great credit to the work of people like Piketty and Richard Wilkinson and to the efforts of those involved in the Occupy movement, that was responsible for putting inequality and the 1% back in the spotlight.

The next step is to force the implementation of policies that will actually reduce inequality, rather than exacerbate it as Murdoch would have us do. This requires understanding how to pull the levers of power – a topic considered distasteful by many progressives, but built into the core of Murdoch’s politics. How else does he come to be lecturing a collection of finance ministers from the world’s richest countries?

Posted in Inequality, philosophy of economics, tax economics | Tagged , , , , , , | Leave a comment

Our houses can’t make us all rich

First published at ABC’s The Drum Thu 23 Oct 2014, 10:42am

Select few enjoy the spoils

Photo: Increases in house prices are only really beneficial to those who own more than one house. (Reuters: David Gray)

While a recent report might suggest Aussies are the richest people in the world because of high house prices, the reality is the true beneficiaries of this boom are banks and lenders, writes Warwick Smith.

The latest Global Wealth Report, released by Credit Suisse last week, indicates that Australians are the richest people in the world (based on median wealth). The biggest contributor to our wealth is house prices. This news has been enthusiastically embraced by economists and journalists alike.

Even the usually sensible Saul Eslake, of Bank of America Merrill Lynch, seems to indicate this is a good sign, saying “rising house prices tend to reduce inequality, as they make up a greater part of middle class wealth”.

This is a little bit like saying that because the market price of a human heart has gone up we’re all now rich. Increases in house prices are only really beneficial to those who own more than one house. If you only own one house, like you only own one heart, the circumstances in which you can really benefit from price increases are rare.

Owner occupiers might be wealthy on paper but it means virtually nothing to their wellbeing or even material prosperity. For those who don’t own a house but would like to, increases in prices are, at best, disheartening.

The very high median house prices in Australia are driven largely by capital city prices, particularly in Melbourne and Sydney. Many young people in these cities have given up the dream of owning their own home because the only way it’s vaguely possible is if they live in far outer suburbs with few services and hours of commuting. Young families who do manage to purchase a home (rarely can it be done on a single income) are often forced to work more than they would like, leaving kids in childcare and after school care when they would rather be spending time with them.

The true beneficiaries of ever increasing real estate prices are the banks and other lenders. Most Australians spend a very significant proportion of their incomes paying interest to the banks, either directly on their own mortgages or indirectly via their landlords. The higher house prices go, the more income is captured by the banks. Saddling our young people with a lifetime of debt is not a cause for celebration, it’s a problem to tackle

Current government policy actively props up real estate prices by making housing investment artificially attractive. Negative gearing and the concessional treatment of capital gains (individuals pay tax on only half of the money they make from capital gains) distorts the investment market and makes speculating on land prices a very attractive investment option. Public policy should be doing the opposite. We should be directing investment into productive economic activity, not into asset price speculation. Housing construction is productive activity, speculating on the price of existing housing stock is not.

From an economist’s point of view, there are plenty of options for tackling housing affordability that would also strengthen the Australian economy and reduce the likelihood of bubbles and recessions. These include abolishing negative gearing and the concessional treatment of capital gains and increased use of land taxes.

Accumulating wealth through increased house prices is not progress and it’s not prosperity. Wealth that is gained through rising land prices is what economists call economic rent; it’s unearned income. Landowners do nothing to cause land price increases, which are actually a result of community and government action. As a result, the income should belong to the community.

From a politician’s point of view things are not so simple. Any politician who even suggests meaningful measures to tackle housing affordability will be attacked by those with a vested interest in ongoing real estate speculation. The banks are at the top of that list as well as being at the top of the list of corporate donors to the Liberal party. However, the banks are far from being the only obstacle. There are also the million or so individuals in Australia with investment properties. Grandfathering of current provisions plus incremental shifts in tax arrangements spread over many years (as the ACT is doing) can overcome some of these problems but significant political will would still be required.

As a nation we can do a lot better than funnelling our wealth and aspirations into never-ending growth in house prices. Despite this, doing something meaningful about housing affordability is not on the political agenda of Labor or the Coalition because there is no bottom up pressure on them to act and plenty of top down pressure not to.

While most media outlets continue to unquestioningly report price increases in a positive light there is little chance of this changing.

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My tribute to Gough Whitlam

We want Gough

By Warwick Smith

First published at Indepenent Australia. 22/10/2014

My earliest clear childhood memory is sitting on my dad’s shoulders in a huge crowd outside parliament house in Canberra chanting “we want Gough” over and over. I also remember sitting under the trees nearby sorting out my collection of badges – which I still have – one of which says “Export Fraser not uranium”, in the classic lefty protest tradition of mashing more than one cause into an event. This was late in 1975 in the immediate aftermath of the dismissal.

Fourteen years later I started university, the first year that it was no longer free. These events bookend my brief, youthful love affair with the Australian Labor Party.

Gough Whitlam was a visionary leader. I think it’s fair to say he was the last visionary political leader this country has had. He didn’t dip his big toe in the political waters to check the temperature, he just took a running leap and bombed everyone in the pool – including those of his own party.

The list of reforms of the Whitlam government is quite unbelievable for such a short time in office. Some of these reforms were small but significant in their symbolism, like selling the black Rolls Royce commonwealth cars and replacing them with more modest white cars like those we see today. Some of the Whitlam reforms were momentous and truly shaped the future of the country, universal health care, land rites, free tertiary education and abolishing conscription being obvious examples. It’s noteworthy that virtually none of Gough’s reforms were repealed by the Fraser government and continue as part of our political identity to this day.

After so many years in opposition the Labor party were brimming with pent up plans for the country and were in a hurry to implement them – too much of a hurry perhaps. Whitlam polarised the nation as perhaps nobody since has done.

He also cast doubt upon our relationships with our grand old allies, the US and UK. He gave us a new national anthem to replace God Save the Queen. He abolished royal titles in Australia (that Abbott has now reinstated). He opened the question of whether or not Australia should host secret US intelligence facilities like Pine Gap. He ended conscription for the Vietnam War and ordered an end to Australian involvement in the US orchestrated overthrow of the democratically elected government of Chile. Never before or since has Australia so substantially chartered its own course with respect to significant international events.

I recently wrote a series of articles at The Guardian on the sorry state of our democracies. Most of the points I discussed in those pieces didn’t relate to the Whitlam government. Love them or hate them, you have to admit that they didn’t sail close to the political wind and they weren’t afraid to lead. They stated their aims and they implemented reforms to achieve them. Gough Whitlam had a powerful vision for a different Australia and he tried to lead Australia towards that vision. Despite the high speed train wreck that ended the Whitlam government, to a very large extent they succeeded in radically reshaping the country to more resemble their vision.

I, for one, think our country is immeasurably better off for having had that brief period of genuine political leadership. I may have lost my love of the Australian Labor Party but I never lost my love of Gough – warts and all. Thank you Gough Whitlam, rest in peace.

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My latest at The Guardian questions the value of pursuing economic growth at all costs

Do we dare to question economic growth?

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First published at theguardian.com, Monday 13 October 2014 13.14 AEST

The planet has finite resources.
The planet has finite resources. Photograph: Reid Wiseman/NASA

The endless pursuit of economic growth is making us unhappy and risks destroying the Earth’s capacity to sustain us. The good news is that taking steps to make our lives more sustainable will also make us happier and healthier. Would you like a four day weekend – every week?

I’ve been to two conferences over the last year with similar basic premises. The first was at the Australian National University on ecological economics and the second, just last week, was on steady state economics at the University of New South Wales. The premise sitting behind both of these conferences is simple and undeniably true yet undermines so much that is fundamental to our current way of life:

We live on a finite planet.

That’s it. How, you might wonder, can such a simple statement of obvious fact undermine the tenets of modern society?

The earth is a giant rock, hurtling through inhospitable space surrounded by a very thin film of life sustaining atmosphere. Earth’s life support systems are self-sustaining and self-regulating. However, we humans are slowly and steadily pulling this life support system to pieces. Our planet is very large and can absorb a lot of tinkering with its systems, but there are now over 7 billion of us and the amount of energy and resources we are each using is growing fast. That’s a lot of tinkering.

There’s plenty of evidence that we are pushing up against and exceeding several critical boundaries of global sustainability: by which I don’t mean some tree hugging idea of sustainability, I mean we are taking actions that cannot be supported by the earth’s systems in the long term. We’re already exceeding the earth’s adaptive capacity with respect to greenhouse gas emissions, biodiversity loss and the nitrogen cycle and we’re approaching critical limits in both the phosphorous cycle and ocean acidification. Our use of fresh water is also approaching or exceeding sustainable limits in many parts of the world and we’re systematically destroying our arable land. These are critical life sustaining global processes that cannot be ignored without severe consequences.

living planet report
The Living Planet Report illustrates what we know about our impact on global processes. Photograph: living planet report

Economists, like the nobel prize winning Paul Krugman, will counter this line of thought by pointing out that, theoretically, we can have endless economic growth because of continuous efficiency increases. If you believe human creativity is endless then you can argue that economic growth can be endless. However, in this case, like in so many, reality clashes violently with economic theory. We are showing no signs of decoupling economic growth from physical resource use. Unless that decoupling starts now and happens in a hurry, continued economic growth will push the planet beyond its capacity to sustain us – on several fronts.

You may be surprised to hear that there’s really good news in all this. None of the stuff we’re doing that’s destroying the biosphere is making us happy. By contrast, changing to a more sustainable way of living will also bring us greater happiness and general wellbeing. Seem too good to be true? That’s because we’ve all been so effectively sold the line that endless growth is essential to maintain and improve our quality of life. This couldn’t be further from the truth. Material prosperity has diminishing returns when it comes to happiness and wellbeing. Once we have good access to food, shelter, healthcare and other basic material things, the nature of the community in which you live and the quality of your relationships is the best predictor of wellbeing. More stuff only makes a very marginal difference.

Money can’t buy happiness
Money can’t buy happiness. When rich countries get richer their subjective wellbeing (SWB) doesn’t necessarily rise. Photograph: Development, Freedom, and Rising Happiness: A Global Perspective (1981–2007).

So, the good news is that the public policy settings for saving the planet align very well with the policy settings for saving your marriage and your relationship with your children, friends and neighbours and therefore with serving your happiness and wellbeing.

First we have to do something about the price of housing. People cannot be freed from the earth destroying and soul destroying rat race when simply securing a place to live means a lifetime of debt peonage to the banks (or paying absurd rents to somebody else so that they can give it to the banks).

Once this is done, we need to understand and promote the value of leisure and the lack of benefit we get from material consumption. Retail therapy only ever works in the very short term. Real friendships work for life.

How about a three day work week with a four day weekend? It can be done. Productivity improvements can be directed into allowing people to work less for the same pay instead of into corporate profits and expansion. It’s not written in stone that you always have to work as hard as you can for as long as you can so that some senior executive can get his million dollar bonus. Instead, work for or set up a not-for-profit cooperative where the workers own the business and can spread the benefits any way they see fit. It’s true that if we work less and buy less the economy may shrink but we’ll all be happier and healthier. Here’s something you won’t hear from many politicians or economists: the economy should serve us, not the other way around.

Think about that three day work week. It is possible and the only reason we don’t do it is because it doesn’t suit the ambitions of the empire builders, the 1% who control so much of the wealth and the political power. Their system requires our consent and participation. They can be beaten if we simply stop believing their bullshit and prioritise our own wellbeing and that of the planet. It’s both that simple and that difficult.

Posted in climate change, Economic theory, Sustainability | Tagged , , , , , | 2 Comments

Part 3 of three part series on democracy in The Guardian

If democracy is broken, why should we vote?

By Warwick Smith

Originally published at theguardian.com, Thursday 18 September 2014 14.28 AEST

Some argue that only by withdrawing our participation from the broken system can we hope to fix it or build something better. Are they right?

A demonstrator shouts in Times Square. Photograph: Mario Tama/Getty Images

Democracy theoretically puts the power of governance in the hands of the people. The origins of the word come from the ancient Greek words; dêmos, meaning people and kratos, meaning power.

However, many have argued that modern western political systems are closer to plutocracies than democracies. A plutocracy is ruled by money rather than by the people (ploutos means wealth). The costs of running a modern election campaign make it very difficult for candidates to win without substantial financial backing. Sourcing those finances is inherently corrupting because big corporate donors only give money in return for political favours. Combine this with the ice cream stall electioneering strategy of both major parties occupying very similar political territory, and you have a system ripe for voter disengagement.

The public’s faith in politics in Australia is at an all-time low with only 43% of voters in a recent poll believing that it makes a difference which of the major parties is in power compared to 68% as recently as 2007. Similarly dismal attitudes towards politics can be seen in the UK with only 33% believing the system of government works well.

In Australia, there is bipartisan support for many fundamentally antidemocratic policies such as pursuing so-called free trade agreements, which, at their core, are about ceding sovereignty to multinational corporations. There’s also bipartisan support for punishing asylum seekers who try to come here on boats seeking our protection, bipartisan support for following the US into any and all wars and bipartisan support for valuing economic growth above the wellbeing and sustainability of our society. The entire international trade and finance regime has substantially eroded government power, leaving immigration and national security as final frontiers where sovereignty remains pretty much untrammelled.

The degraded state of our democracies explains the popularity of figures like Russell Brand, whom I mentioned in my last column. He speaks directly to people who are politically aware but disillusioned, suggesting that if there are no candidates who represent our interests and our aspirations we should not vote. Only by withdrawing our participation from the broken system can we hope to fix it or build something better.

Russell Brand: “what’s the point of voting?”. Photograph: Karen Robinson/Observer

Devastating critiques of our current political and economic systems abound but almost always seem to become self-contradictory when they come to providing solutions. They claim that neoliberalism has fragmented the population and eroded sovereignty, making coherent political change more difficult. But at the same time, the solutions often rely on some nudge or tweak or restriction after which everyone will just be nice to each other. In other words, they rely on changing human nature.

This situation of disillusionment with the political economy combined with a lack of viable solutions has been around ever since the ancient Greeks experimented with different forms of democracy. The challenge has always been to develop a system that can’t be gamed or corrupted by power seekers or empire builders (ie people who have expansive ambition that trumps other concerns). Power seekers are a motley crew. Some are high functioning psychopaths, seeking power for power’s sake, some simply want to dominate a field of endeavour. Others have ideological reasons for wanting to change the world.

Power seekers can be a source of innovation and creativity. The challenge is to contain them, because, if not kept in check, they and their kin will corrupt or bring down just about any social or political structure that spreads power broadly through society.

Banners placed by demonstrators at Puerta del Sol square in Madrid. Protesters felt their demands were ignored by politicians. Photograph: Toni Garriga/EPA

I’m fundamentally anti-utopian in my political philosophy and believe it’s impossible to design social structures or political systems that are safe from capture by power seeking elites. The basis of social justice therefore has to be a state of permanent awareness, resistance and protest. The best you can do is to have an informed public engaged in a continuous struggle to maintain and improve on overall social welfare, human rights, human dignity and justice. In the absence of vigilance and protest, the rise of anti-democratic structures and barriers to social progress is inevitable.

A top priority in the permanent protest model has to be defending and strengthening protections for dissenters. The more weapons, physical, legal and ideological, the state has to quell dissent the more vulnerable society is to the power seekers. National security is the most common excuse for restricting political and social freedom and those who peddle such excuses should be treated with the utmost suspicion.

With permanent protest in mind, let’s turn back to the question that this column began with. Should we do as Brand advocates and withdraw our participation from the current political system with the aim of delegitimising it?

As I’ve argued elsewhere, each citizen needs to have a vision of what he or she wants our country and our world to be like. We should bring those visions to bear on our political engagement. If the major parties don’t sufficiently represent your vision, then vote for a minor party. If none of those represent your vision then sure, consider not voting as a part of a broader political strategy but don’t take the decision lightly. Simply taking your bat and ball and going home is unlikely to achieve anything on its own.

There is a huge range of options open for those who feel politically disenchanted or disenfranchised. What you choose to do might depend on your talents and passions but you could jump in the deep end and join a political party and work for change from the inside; join and become active in your union; create a political party; do postgraduate research on democracy and power; join a citizens advocacy group; write comment pieces for The Guardian or go all out and seek and advocate revolution. We need people doing all those things all the time because there are power seekers who are constantly pushing in the other direction and we mustn’t leave them unchallenged.

Much of what Russell Brand has to say is right on the mark. He is playing the permanent protest game and is doing his part to maintain political vigilance. For that I salute him – but I’m still going to vote.

 

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The state of democracy – Part 2 of 3 in The Guardian

Political donations corrupt democracy in ways you might not realise

By Warwick Smith

Originally published at The Guardian, Thursday 11 September 2014 10.37 AEST

A consequence of a donation-driven approach to politics is that areas of political debate are in policy areas that the wealthy elite don’t care about, like same sex marriage or abortion

Part 1: Why politicians must lie – and how selling ice-creams is like an election campaign

Part 3: If democracy is broken, why should I vote?

Who would pay $10,000 for a table at a fundraiser? Photograph: Alamy

Corporations don’t give their money away for nothing. There is an understanding (rarely made explicit) that large campaign donations buy political access and favourable consideration in policy development and legislation. Why else would a corporation, which is bound by law to pursue profits, make these donations?

Interestingly, many businesses give money to both sides of the narrow political divide; sometimes different amounts, sometimes exactly the same amount. In the lead up to the 2013 federal election in Australia, for example, Inghams gave Labor and Liberal parties each $250,000, Westfield gave them each $150,000 and ANZ gave them each $80,000. By my count, over one third of donors (excluding individuals) gave to both the coalition and Labor during 2012/13. This is not unique to Australia but occurs in all democracies, just indirectly in those places where direct political donations from corporations are illegal.

Donating equally to both sides is clearly not about helping one side win. It’s an implied threat: “if you don’t treat us well we’ll give you less and they’ll be ahead.” When both major parties have the same policy on an issue, it effectively removes that issue from democratic scrutiny. This is the aim of many political donations from businesses who stand to lose from policy changes that would be popular with the electorate. Only areas of difference between contenders end up being discussion points during elections, the rest is passed over in silence.

Such a big deal is made out of the few policy differences between major parties that during campaigns they can appear to be poles apart. However, as I have discussed previously, the main contenders in developed democracies are actually very closely aligned with respect to political ideology and policy – particularly economic policy.

During their last term in office, the minority federal Labor government in Australia were more or less forced by independent MP Andrew Wilkie to attempt to implement restrictions on poker machine gambling. Prior to the discussion of reforms beginning, gaming industry lobby groups were giving similar amounts of money to both major parties but slightly favouring Labor. As soon as Labor started talking seriously about reform, the donations began to dramatically favour the opposition Liberals. The leader of the Liberal party, Tony Abbott, came out strongly against the reforms and they were eventually abandoned.

During the period in question, surveys showed that a large majority (70-75%) of Australian voters supported poker machine reform to limit the impact on problem gamblers and their families. The voters lost that one as they usually do when wealthy industries are lined up against them.

The gambling interests won the game and showed the Labor party that they weren’t bluffing. If I were a gambling man, I’d put money on poker machine reform not being raised by major parties in federal politics in the near future. The gaming industry has effectively paid to have the issue taken off the national political agenda. The view of the voting public is no longer relevant.

There are many more examples of this process where corporate and other wealthy entities punish reformists by shifting financial support. The best-documented examples in recent Australian political history are the mining and carbon taxes and the Future of Financial Advice (FoFA) reforms. There has been plenty of coverage of these issues so I won’t repeat the stories here.

Once a policy issue is effectively silenced, ongoing donations to both major parties help to entrench major party dominance. Large donations to both the Liberal and Labor parties further marginalise minor parties who may seek to break the silence on policy issues that the corporates or elites have purchased. In Australia, the Greens are strong advocates of poker machine reform so donations that advantage the major parties over the Greens are still worth making for corporates who want this issue out of the spotlight. When it’s a two horse race, the game is relatively easy to control.

A consequence of this donation-driven approach to politics is that many areas of open political debate between and within major parties are in policy areas that the wealthy elite don’t care much about, like same sex marriage or abortion, or represent divisions between corporate interests. Of course, some vestiges of ideological differences remain and show up in areas such as industrial relations and welfare.

It’s clear that policy formation and the legislative agenda of major political parties is not explained simply by following money trails. However, the money trails are our best portholes into the rest of the opaque process. Who attends fundraising dinners with senior politicians that cost $10,000 a plate? What do they talk about? It’s easier to spin a story to voters about why you watered down regulations than it is to tell the bankers whom you mix with socially and professionally why you couldn’t help them out. Personal relationships matter to politicians as much as to the rest of us.

Sitting in the middle of this process are the lobbyists and think tanks who invent public rationalisations for policy positions that serve their clients’ interests. My previous column here discussed why politicians lie. Lies are most effective when the liar believes them. The first step in effective lying is to convince ourselves of the lie. This is where the think tanks and lobbyists come in, telling politicians, for instance, that FoFA regulations have to go because compliance is onerous and damaging to the efficiency of business. Too much red tape chokes economic activity. I’m sure many in the Coalition government really believed this reason for watering down the FoFA reforms but I guarantee the idea originally came from the banks or their lobbyists who simply want to continue to rip off their customers.

This is a complex and dirty game dominated by political donations, vested interests, personal ambition, class and power. Voters are a part of the game but representing their interests may not be a politician’s top priority. Politicians will only act on behalf of voters if no wealthy or powerful group objects – or if the party in question is boxed into a corner by a hung parliament or a combination of marginal electorates and strong community action.

All of this begs the question of why we should bother voting. A video of actor Russell Brand being interviewed by the BBC’s Jeremy Paxman went viral last year precisely because of Brand’s compelling arguments that we should not vote and that voting only legitimises a fundamentally illegitimate system. So next week, I’ll follow this column up with another titled “why vote?”

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Political donations in Australia 2012/13

The below list is from AEC data (via the ABC who saved me the time of compiling a table) of donations to political parties during the 2012/13 fincial year sorted by donor. The objective of this post is to illustrate the number of companies who are donating to both sides of political contests in support of my recent article in The Guardian.

Going no further than a page down the list of companies starting with A we see that A&K, AGL, Allianz, AMP, ANZ and Arrow Energy all gave money to both Labor and the Coalition but the list goes on and on.

By my quick count over a third (84 of the 235) of the donors who were not individuals gave to both Labor and the Coaltion.

Donor Recipient Amount ($AUD)
A&K (NT) Pty Ltd and Minegain Pty Ltd Country Liberals (Northern Territory) 10000
A&K (NT) Pty Ltd and Minegain Pty Ltd Australian Labor Party (Northern Territory) Branch 2000
AGL Energy Limited LIB-VIC 29220
AGL Energy Limited ALP-SA 16238
AHL Administration Pty Ltd Liberal Party of Australia, NSW Division 20000
AHL Administration Pty Ltd Liberal Party of Australia 5000
AIMS HOME LOANS PTY LTD Liberal Party of Australia (Victorian Division) 40000
ALH Group Pty Ltd LIB 21270
ALH Group Pty Ltd LIB VIC 4700
ALH Group Pty Ltd LIB TAS 4400
AMP Services Ltd LIB – Menzies Research Centre 22000
AMP Services Ltd ALP – Chifley Research Centre 20000
AMP Services Ltd ALP 8250
AMP Services Ltd LIB 6600
ANZ Banking Group Limited Australia Labor Party (ALP) 80000
ANZ Banking Group Limited Liberal Party of Australia (LIB) 80000
AUSTRALIA KINGOLD INVESTMENT DEVELOPMENT CO. PTY. LTD. Australian Labor Party (State of Queensland) 20000
AUSTRALIA KINGOLD INVESTMENT DEVELOPMENT CO. PTY. LTD. Australian Labor Party (N.S.W. Branch) 5000
AUSTRALIAN HOTELS & HOSPITALITY ASSOCIATION INC. Liberal Party of Australia (Victorian Division) 306250
AUSTRALIAN HOTELS & HOSPITALITY ASSOCIATION INC. Liberal Party of Australia 104000
AUSTRALIAN HOTELS & HOSPITALITY ASSOCIATION INC. Australian Labor Party (Victorian Branch) 22700
AUSTRALIAN HOTELS & HOSPITALITY ASSOCIATION INC. National Party of Australia – Victoria 7570
AUSTRALIAN HOTELS & HOSPITALITY ASSOCIATION INC. National Party of Australia 4500
Accomodation Association of Australia Liberal Party of Australia, NSW Division 25000
Accomodation Association of Australia Liberal Party of Australia – Tasmanian Division 1500
Accomodation Association of Australia Liberal National Party of Queensland 350
Advocacy Services Australia Limited Liberal Part NSW Division 10000
Advocacy Services Australia Limited Liberal Party VIC – Enterprise 500 Victoria 5272
Advocacy Services Australia Limited ALP – WA 4075
Advocacy Services Australia Limited Liberal Party SA – Norwood SEC 3500
Advocacy Services Australia Limited Liberal Party VIC Division – Flinders 3000
Advocacy Services Australia Limited Liberal Party NSW Division – Paterson 2300
Advocacy Services Australia Limited Liberal Party Tasmania 2000
Advocacy Services Australia Limited ALP VIC Branch 1150
Advocacy Services Australia Limited Liberal Party NSW Division – Lindsay 750
Advocacy Services Australia Limited Liberal Party VIC Division 750
Advocacy Services Australia Limited Liberal Party NSW Division – Warringah 490
Advocacy Services Australia Limited Liberal Party of NSW Division – Wentworth 328
Advocacy Services Australia Limited LIberal Party NSW Division – Cook 250
Advocacy Services Australia Limited National Party of Australia – NSW (NAT – NSW) 150
Advocacy Services Australia Limited Liberal Party NSW Division – Bradfield 95
Advocacy Services Australia Limited Liberal Party SA – Sturt FEC 70
Advocacy Services Australia Limited Liberal Party NSW Division – Cook 200 Club 60
Allens LIB-NSW 15000
Allianz Australia Ltd Liberal Party of Australia 29710
Allianz Australia Ltd Australian Labor Party (ALP) 20550
Allianz Australia Ltd Liberal Party of Australia (Victorian Division) 12425
Allianz Australia Ltd Liberal Party of Australia – Tasmanian Division 8800
Allianz Australia Ltd Liberal National Party of Queensland 8300
Allianz Australia Ltd National Party of Australia 6600
Allianz Australia Ltd Liberal Party (W.A. Division) Inc. 6500
Allianz Australia Ltd Australian Labor Party (Victorian Branch) 990
Arrow Energy Pty Ltd National Party of Australia 13200
Arrow Energy Pty Ltd Liberal National Party of Queensland 10700
Arrow Energy Pty Ltd Australian Labor Party (ALP) 9900
Australian Automobile Association Australian Labor Party (ALP) 14364
Australian Automobile Association Liberal Party of Australia 6900
Australian Automobile Association National Party of Australia 6000
Australian Automobile Association Liberal Party of Australia (Victorian Division) 4273
Australian Automobile Association Liberal Party of Australia, NSW Division 4000
Australian Fuel Distributors Pty Ltd Australian Labor Party (Northern Territory) Branch 75000
Australian Fuel Distributors Pty Ltd Country Liberals (Northern Territory) 50000
Australian Hotels Association (SA Branch) Australian Labor Party (SA Branch) ALP-SA 30620
Australian Hotels Association (SA Branch) Liberal Party of Australia (SA) LIB-SA 18240
Australian Hotels Association (SA Branch) Liberal Party of Australia (SA) LIB 4150
Australian Hotels Association (SA Branch) Liberal Party of Australia Hindmarsh FEC LIB 2600
Australian Hotels Association (SA Branch) Liberal Party of Australia 985
Australian Hotels Association (SA Branch) Liberal Party of Australia LIB-SA 95
Australian Hotels Association – Federal Office Australian Labor Party (Northern Territory) Branch 150000
Australian Hotels Association – Federal Office Country Liberals (Northern Territory) 150000
Australian Hotels Association – Federal Office Liberal Party of Australia, NSW Division 25000
Australian Hotels Association – Federal Office Liberal Party of Australia 9100
Australian Lottery Company Pty Ltd Country Liberals (Northern Territory) 17500
Australian Outback Travel Company Pty Ltd LIB-NSW 26200
Australian Outback Travel Company Pty Ltd LIB-VIC 9500
Australian Outback Travel Company Pty Ltd LIB 597
Australian Outback Travel Company Pty Ltd LIB-QLD 280
Australian Private Equity & Venture Capital Association Limited Australian Labor Party (ALP) 5933
Australian Private Equity & Venture Capital Association Limited Liberal Party of Australia (Victorian Division) 5000
Australian Private Equity & Venture Capital Association Limited Liberal Party of Australia 4000
Australian Private Equity & Venture Capital Association Limited Liberal Party of Australia – Tasmanian Division 3300
Australian Private Equity & Venture Capital Association Limited Liberal Party of Australia, NSW Division 95
BC Iron Limited Liberal Party (W.A. Division) Inc. 10500
BC Iron Limited National Party of Australia (WA) Inc 6545
BDH Nominees Pty Ltd Country Liberals (Northern Territory) 25000
BDH Nominees Pty Ltd Australian Labor Party (Northern Territory) Branch 12500
Balmoral Pastoral Pty Ltd Liberal Party of Australia 200000
Barton Deakin Pty Ltd Liberal Party of Australia – NSW 22960
Batrob Investments Pty Ltd CLP 15000
Beach Energy Limited Liberal Party of Australia (S.A. Division) 14300
Beach Energy Limited Liberal Party of Australia 5000
Beechwood Homes (NSW) Pty Ltd LIB-NSW – Ray King Fundraiser 19200
Belford Productions Pty Limited Liberal Party of Australia 2000
Bensons Property Group Pty Ltd Lib-Vic (Higgins 200 Club) 27500
Birchley Pty Ltd Liberal Party (W.A. Division) Inc. 25000
Bouddi Trust GRN-ACT 17000
Brookfield Australia Investments Group Australian Labor Party (ALP) 27000
Brookfield Australia Investments Group LIB-NSW 22000
Brookfield Australia Investments Group Liberal Party of Australia (Victorian Division) 12000
Brookfield Australia Investments Group Liberal National Party of Queensland 10600
Brookfield Australia Investments Group Liberal Party (W.A. Division) Inc. 10000
Brookfield Australia Investments Group Australian Labor Party (Western Australian Branch) 1100
CBD Energy Limited Liberal Party of Australia, NSW Division 20000
CEPU Electrical Division NSW Branch ALP-NSW 25000
CGA Mining Limited LIB-WA – Cottesloe Liberal Campaign 15000
CMAX Communications Pty Ltd Ian Macfarlane, Member for Groom/Liberal Party of Australia 8000
CMAX Communications Pty Ltd Mike Kelly, Member for Monaro/ALP 7817
CMAX Communications Pty Ltd Senator David Johnston, Liberal Party of Australia (WA Div) 7600
CMAX Communications Pty Ltd Joel Fitzgibbon, Member for Hunter/ALP 1000
CPA Australia Ltd Australian Labor Party 2500
CPA Australia Ltd Liberal Party of Aust Tasmanian Divisn 1650
CPA Australia Ltd Australian Labour Party 1500
CPA Australia Ltd Australian Labour Party NSW Branch 1000
CSG Limited Australian Labor Party (Northern Territory) Branch 20000
CSG Limited Country Liberals (Northern Territory) 20000
CSR Limited Liberal Party of Australia (Victorian Division) 5212
CSR Limited Australian Labor Party (Tasmanian Branch) 4500
CSR Limited Liberal Party of Australia – Tasmanian Division 4091
CSR Limited Liberal Party of Australia 2500
CSR Limited Australian Labor Party (Victorian Branch) 2273
CSR Limited National Party of Australia – Victoria 1364
CUB Pty Ltd Australian Labor Party (ALP) 16500
CUB Pty Ltd Liberal Party of Australia (LIB) 11000
CUB Pty Ltd National Party of Australia (NAT) 8800
CUB Pty Ltd Liberal Party of Australia (News South Wales Division) (LIB-NSW) 1000
Cabcharge Australia Ltd Liberal Party of Australia 100000
Cairns Professional Game Fishing Association AFLP. Aust Fishing & Lifestyle Party 25000
Caltex Australia Limited ALP 36287
Caltex Australia Limited LNP-QLD 16950
Caltex Australia Limited LIB-NSW 11470
Caltex Australia Limited NAT 10040
Caltex Australia Limited NAT-NSW 4600
Coleman Printing Group Country Liberals (Northern Territory) 12980
Commonwealth Bank of Australia Liberal National Party of Queensland 15650
Commonwealth Bank of Australia National Party of Australia 8800
Commonwealth Bank of Australia Australian Labor Party (ALP) 8250
Commonwealth Bank of Australia Liberal Party of Australia 595
Coogee Chemicals Pty Ltd Liberal Party (W.A. Division) Inc. 21000
Coogee Chemicals Pty Ltd Liberal Party of Australia 17500
Crown Group Holdings Pty Ltd ALP-FED 20000
Crown Group Holdings Pty Ltd Liberal Party of Australia 700
Crown Group Holdings Pty Ltd Liberal Party of Australia, NSW Division 380
Crown Limited Liberal Party (W.A. Division) Inc. 51750
Crown Limited Australian Labor Party (Western Australian Branch) 23100
Crown Limited Liberal Party of Australia 21948
Crown Limited Liberal Party of Australia (Victorian Division) 12730
Crown Limited Australian Labor Party (ALP) 11000
Crown Limited Australian Labor Party (Victorian Branch) 5550
Crown Limited Australian Labor Party (N.S.W. Branch) 3000
DJ Partners Pty Ltd LNP-QLD 15000
DPCA Country Liberals (Northern Territory) 15000
Darwin International Airport Hotel Pty Ltd Liberal Party of Australia 100000
Dear Sir Brendan Rice Liberal Party of Australia (Victorian Division) 15000
Decket Pty Ltd LIB 25000
Delmat Distributors pty ltd Australian Sex Party 15000
Deloitte Touche Tohmatsu Liberal Party of Australia 78056
Deloitte Touche Tohmatsu Australian Labor Party (ALP) 58808
Deloitte Touche Tohmatsu Liberal Party of Australia (Victorian Division) 13160
Deloitte Touche Tohmatsu Australian Labor Party (N.S.W. Branch) 11407
Deloitte Touche Tohmatsu National Party of Australia 9964
Deloitte Touche Tohmatsu National Party of Australia – N.S.W. 8000
Deloitte Touche Tohmatsu Australian Labor Party (Western Australian Branch) 1570
Deloitte Touche Tohmatsu Australian Labor Party (Victorian Branch) 1550
Deutsche Bank Liberal Party of Australia 11000
Deutsche Bank Liberal Party of Australia (Victorian Division) 7000
Deutsche Bank Australian Labor Party (Victorian Branch) 3200
Deutsche Bank Australian Labor Party (ALP) 2550
Directhaul Pty Ltd Australian Labor Party (Northern Territory) Branch 25000
Dominic Roche National Party of Australia 20000
Douglas Kefford Capital Pty Ltd National Party of Australia – Victoria 50000
Dr Robyn Apel LNP QLD 1000
Eastern Australia Agriculture Pty Limited Liberal Party of Australia, NSW Division 20000
Electrical Trades Union Australian Greens, Victorian Branch 50000
Electrical Trades Union Katter’s Australian Party 50000
Electrical Trades Union Australian Labor Party (Northern Territory) Branch 30000
Eli Lilly Australia Pty Ltd ALP 17650
Employers Mutual Limited Liberal Party of Australia / LIB-NSW 14100
Employers Mutual Limited Liberal Party of Australia / LIB 5000
Energy Australia Pty Ltd Liberal Party of Australia (VIC Division) 25000
Energy Australia Pty Ltd Australian Labor Party 22900
Energy Australia Pty Ltd Australian Labor Party (Vic Branch) 8755
Energy Australia Pty Ltd Australian Labor Party (SA Branch) 1100
Ernst & Young LIberal Party of Australia (WA) 43950
Estate Christine Fogg The Greens NSW 34369
Estate of Judith Catherine Iltis Australian Greens, Australian Capital Territory Branch (GRN-ACT) 18000
FJM Equities Pty Ltd Liberal Party (W.A. Division) Inc. 35000
FPC30 Ltd t/a FPC Green Energy LNP-QLD 15000
Fannie Bay Investments Pty Ltd Country Liberal Party (CLP-NT) 15000
Financial Planning Association of Australia Ltd Liberal Party (W.A. Division) Inc. 10000
Financial Planning Association of Australia Ltd Liberal Party of Australia, NSW Division 5500
Financial Services Council Limited North Sydney Forum – LIB-NSW 11000
Financial Services Council Limited Senator Mathias Corman Liberal Party Camp A/C – LIB-WA 10000
Financial Services Council Limited Robertson Labor Campaign – ALP-NSW 7500
Financial Services Council Limited ALP-FED 5000
Financial Services Council Limited Progressive Bus. Assoc. – ALP-FED 3850
Financial Services Council Limited ALP NSW McMahon FEC – ALP-NSW 3600
Financial Services Council Limited ALP National Secretariat – ALP-FED 2200
Financial Services Council Limited Lindsay FEC – ALP-NSW 1700
Financial Services Council Limited Liberal Party of Australia (TAS) – LIB-TAS 1650
Financial Services Council Limited Casey federal Electorate – LIB-VIC 950
Finbar Group Limited Liberal Party of Australia (WA Div) Inc – LIB-WA 21000
First Exar Pty Ltd Liberal Party of Australia 25000
Furama Pty Ltd ATF Pearson Street Unit Trust Liberal Party of Australia (W.A. Division) 150000
GRA Everingham Pty Ltd Liberal Party of Aus-WA – LIB-WA 14000
GRA Everingham Pty Ltd Liberal Party of Aus – LIB-WA 13400
GRA Everingham Pty Ltd The National Party – NAT-WA 8280
GRA Everingham Pty Ltd Australian Labor Party – ALP-ACT 3300
GRA Everingham Pty Ltd Australian Labor Party – ALP-WA 3260
GRA Everingham Pty Ltd Liberal Party of Aus-SA – LIB-SA 500
GROCON PTY LTD Liberal National Party of Queensland 11600
GROCON PTY LTD Australian Labor Party (Victorian Branch) 9250
GROCON PTY LTD Liberal Party of Australia (Victorian Division) 7000
Gainsdale Pty Ltd Australian Stable Population Party 95920
Gazcorp Pty Limited Liberal Party of Australia, NSW Division 14500
Genworth Financial Mortgage Insurance Pty Limited ALP-FED 65738
Genworth Financial Mortgage Insurance Pty Limited LIB-VIC (Enterprise 500) 25000
Genworth Financial Mortgage Insurance Pty Limited LIB-NSW 19293
George and Maren Lee Rise Up Australia Party 14000
Gimbells Investments Pty Ltd Country Liberals (Northern Territory) 16499
Golden Mile Developments NT Pty Ltd Australian Labor Party (Northern Territory) Branch 12940
Goldtime Holdings Pty Ltd National Party of Australia (WA) Inc 30000
Government Relations Australia Advisory Pty Ltd Liberal Party of Australia – SA – LIB-SA 6906
Government Relations Australia Advisory Pty Ltd Liberal Party of Australia – VIC – LIB-VIC 4595
Government Relations Australia Advisory Pty Ltd Australian Labor Party – SA – ALP-SA 3425
Government Relations Australia Advisory Pty Ltd Australian Labor Party – ALP 2460
Government Relations Australia Advisory Pty Ltd Liberal National Party of Queensland – LNP-QLD 1900
Government Relations Australia Advisory Pty Ltd Australian Labor Party – VIC – ALP-VIC 1550
Government Relations Australia Advisory Pty Ltd Liberal Party of Australia – LIB 500
Government Relations Australia Advisory Pty Ltd National Party of Australia – VIC – NAT-VIC 220
Greentree Farming Liberal Party of Australia, NSW Division 20000
Groundworks Australia Pty Ltd ATF Groundworks Unit Trust LNP-QLD – Oxley FDC (federal fundraising) 2000
Groundworks Australia Pty Ltd ATF Groundworks Unit Trust LNP-QLD – Ryan FDC (federal fundraising) 1000
Group Administration Australia Pty Ltd Liberal Party of Australia (Victorian Division) 50000
Halikos Pty Ltd CLP-NT 100000
Halikos Pty Ltd ALP-NT 90000
Hancock Coal Pty Ltd Australian Labor Party (ALP) 55000
Hancock Coal Pty Ltd National Party of Australia 44880
Hancock Prospecting Pty Ltd National Party of Australia 55000
Hancock Prospecting Pty Ltd Liberal National Party of Queensland 8250
Hanssen Pty Ltd Liberal Party (W.A. Division) Inc. 25000
Health Insurance Restricted Membership Association of Australia LIB-VIC Liberal Party of Australia (Victorian Division) 15330
Health Insurance Restricted Membership Association of Australia LIB-VIC Higgins Federal Electorate Conference 5000
Health Insurance Restricted Membership Association of Australia ALP-VIC Progressive Business 2640
Health Insurance Restricted Membership Association of Australia ALP National Secretariat 1545
Health Insurance Restricted Membership Association of Australia LIB-VIC Higgins 200 Club 1300
Health Insurance Restricted Membership Association of Australia LIB-QLD Dickson Account 1000
Health Insurance Restricted Membership Association of Australia LIB-VIC Kooyong Federal Electorate Conference 300
Health Insurance Restricted Membership Association of Australia LIB-VIC Monash Club 110
Healthscope Ltd Liberal Party of Australia (Victorian Division) 17200
Healthscope Ltd Liberal National Party of Queensland 12550
Healthscope Ltd Liberal Party of Australia – Tasmanian Division 8800
Healthscope Ltd Liberal Party of Australia 4000
Herbert Smith Freehills Liberal Party (W.A. Division) Inc. 26598
Herbert Smith Freehills Liberal Party of Australia 12750
Holding Redlich ALP – National Secretariat Business Forum 22000
Holding Redlich ALP-VIC 8400
Holding Redlich ALP-NSW 7293
Holding Redlich ALP-QLD 1817
Huang Changran ALP NSW 150000
IM Group Ltd Liberal Party of Australia 80000
Inghams Enterprises Pty Limited Australian Labor Party (ALP) 250000
Inghams Enterprises Pty Limited Liberal Party of Australia 250000
Insurance Australia Group Limited Australian Labor Party (ALP) – ALP 25250
Insurance Australia Group Limited Liberal Party of Australia (Victorian Division) – LIB-VIC 14640
Insurance Australia Group Limited Australian Labor Party (Victorian Branch) – ALP-VIC 13750
Insurance Australia Group Limited Liberal Party of Australia – LIB 12755
Insurance Australia Group Limited Liberal Party of Australia – Tasmania Division – LIB-TAS 7300
Insurance Australia Group Limited National Party of Australia – NAT 3760
Insurance Australia Group Limited National Party of Australia – Victoria – NAT-VIC 220
Insurance Council of Australia ALP – Business Forum ALP Federal 25000
Insurance Council of Australia LIB-WA – WA Conference 11000
Insurance Council of Australia LNP-QLD – Planning Forum, QLD 10000
Insurance Council of Australia NAT – Federal National Forum 10000
Insurance Council of Australia LIB-WA – Dinner 2013 5000
Insurance Council of Australia LNP-QLD – Federal Budget reply 5000
Insurance Council of Australia LIB-VIC – Boardroom Policy Forum 4091
Insurance Council of Australia LNP-QLD – LNP Ryan Fund 3000
Insurance Council of Australia LIB-VIC – Evening brief – Hockey 2273
Insurance Council of Australia LIB-VIC – Annual Dinner 2012 2000
Insurance Council of Australia LNP-QLD – Prentice 2000
Insurance Council of Australia LIB-VIC – Boardroom Dinner Hockey 1818
Insurance Council of Australia LIB-WA – Dinner Cormann 1500
Insurance Council of Australia ALP – Boardroom Dinner Bill Shorten 1364
Insurance Council of Australia LIB-VIC – Boardroom Dinner Robb 1364
Insurance Council of Australia LIB-VIC – Enterprise 500 Vic 1364
Insurance Council of Australia NAT – National Budget 1200
Insurance Council of Australia ALP-NSW – Shadow Ministry Lunch 30 Nov 2012 (Fed campaign) 909
Insurance Council of Australia NAT-NSW – Boardroom Lunch (Fed Campaign) 909
Insurance Council of Australia LIB-VIC – Raffle Tickets 728
Insurance Council of Australia LNP-QLD – Function attendance 182
Insurance Council of Australia LNP-QLD – QLD State Budget lunch 182
Insurance Council of Australia LIB-WA – Economic Forum 75
J Hutchinson Pty Ltd Liberal National Party of Queensland 22500
J Hutchinson Pty Ltd Australian Labor Party (State of Queensland) 3300
J.J. Richards & Sons Pty Ltd Liberal Party of Australia 206750
J.J. Richards & Sons Pty Ltd LNP – FDC 33000
J.J. Richards & Sons Pty Ltd LNP Bowman FDC 5800
J.J. Richards & Sons Pty Ltd LNP Wide Bay FDC 2000
J.J. Richards & Sons Pty Ltd LNP Fairfax DC 1000
Jape Kong Su Nominees Country Liberals (Northern Territory) 30000
Jape Kong Su Nominees Australian Labor Party (Northern Territory) Branch 25000
Jefferson Investments Pty Limited Australian Labor Party (ALP) 91000
Jefferson Investments Pty Limited Liberal Party of Australia 86250
Jefferson Investments Pty Limited Liberal Party (W.A. Division) Inc. 17800
Jefferson Investments Pty Limited Liberal Party of Australia (S.A. Division) 2500
Jefferson Investments Pty Limited Liberal Party of Australia – Tasmanian Division 2200
Jeld-Wen Australia P/L Liberal National Party of Queensland 100000
Jon Fogarty Liberal Party (W.A. Division) Inc. 30100
Joondanna Investments Pty Ltd Country Liberals (Northern Territory) 31300
KPMG Australia Liberal Party of Australia 55000
KPMG Australia Australian Labor Party (ALP) 37540
KPMG Australia Liberal Party of Australia, NSW Division 12460
Kalidonis Pty Ltd Australian Labor Party (Northern Territory) Branch 24000
Karara Mining Ltd ALP-VIC 20000
Karara Mining Ltd Liberal Party (W.A. Division) Inc. 2200
Karara Mining Ltd National Party of Australia (WA) Inc 2000
Lance Chapman Australian Greens, Australian Capital Territory Branch 14250
Leighton Holdings Australian Labor Party (ALP) 7872
Leighton Holdings Liberal Party of Australia 2450
Leighton Holdings Liberal Party of Australia – Tasmanian Division 2200
Leighton Holdings National Party of Australia 909
Lion Pty Ltd Liberal Party of Australia 59320
Lion Pty Ltd National Party of Australia 35317
Lion Pty Ltd Australian Labor Party (ALP) 6570
Liveris Holdings Pty Ltd Country Liberals (Northern Territory) 13000
Luo Chuangxiong ALP NSW 150000
MSD Australian Labor Party (ALP) 27500
MSD Liberal Party of Australia, NSW Division 15175
MSD Liberal Party of Australia (Victorian Division) 8000
MSD Liberal National Party of Queensland 3000
MSD Australian Labor Party (State of Queensland) 2700
MSD Liberal Party of Australia 1500
Macquarie Group Limited Australian Labor Party (ALP) 88983
Macquarie Group Limited Liberal Party of Australia 87330
Macquarie Group Limited Liberal Party (W.A. Division) Inc. 35000
Macquarie Group Limited Liberal Party of Australia (Victorian Division) 20700
Macquarie Group Limited Liberal Party of Australia, NSW Division 20095
Macquarie Group Limited Liberal National Party of Queensland 18400
Macquarie Group Limited Australian Labor Party (Victorian Branch) 18150
Macquarie Group Limited National Party of Australia 16500
Macquarie Group Limited Australian Labor Party (N.S.W. Branch) 14700
Macquarie Group Limited Australian Labor Party (South Australian Branch) 9080
Macquarie Group Limited Liberal Party of Australia – Tasmanian Division 4950
Macquarie Group Limited Liberal Party of Australia (S.A. Division) 1100
Macquarie Group Limited Liberal Party of Australia – ACT Division 275
Macquarie Telecom Pty Ltd Australian Labor Party (ALP) 126633
Manildra Group NAT 143096
Manildra Group LIB 60000
Manildra Group ALP 57475
Maurice Blackburn Australian Labor Party (ALP) 60780
Mayfair College Pty Ltd LNP QLD 16500
Medical Technology Association of Australia Ltd Australian Labor Party (ALP) 29000
Medical Technology Association of Australia Ltd Liberal Party of Australia – Tasmanian Division 8800
Medical Technology Association of Australia Ltd Liberal Party of Australia 2095
Medicines Australia Ltd ALP National Secretariat – ALP 33716
Medicines Australia Ltd Liberal Party of Australia, NSW Division – LIB-NSW 27380
Medicines Australia Ltd The Nationals Federal Secretariat – NAT 13640
Medicines Australia Ltd Sheraton on the Park – Plibersek function – ALP 2167
Medicines Australia Ltd Sheraton on the Park – Bradbury function – ALP 1673
Medicines Australia Ltd Doltone House – Combet lunch – ALP 1416
Medtronic Australasia Pty Ltd LIB-TAS 8800
Medtronic Australasia Pty Ltd LIB-NSW 8500
Medtronic Australasia Pty Ltd LIB-QLD 3500
Medtronic Australasia Pty Ltd LIB-VIC 80
Meriton Property Services Australian Labor Party (State of Queensland) 40000
Minara Resources Pty Ltd Liberal Party (W.A. Division) Inc. 105000
Mineral Resources Liberal Party (W.A. Division) Inc. 50000
Mineral Resources Australian Labor Party (Western Australian Branch) 15000
Morandini Investments P/Ltd Australian Labor Party (Northern Territory Branch) 20000
Morandini Investments P/Ltd Country Liberals (Northern Territory) 20000
Mowburn Nominees Liberal National Party of Queensland 50000
Mowburn Nominees National Party of Australia 50000
Mr Alfred Moufarrige Liberal Party of Australia, NSW Division 15700
Mr Alfred Moufarrige Liberal Party of Australia 5000
Mr Alfred Moufarrige Liberal Party of Australia – Tasmanian Division 3300
Mr Clive Frederick Palmer Liberal National Party of Queensland / LNP-QLD 43300
Mr Clive Frederick Palmer Liberal Party (W.A. Division) Inc. / LIB-WA 5000
Mr Darryl Moore Liberal Party (W.A. Division) Inc. 50000
Mr David Shoebridge GRN-NSW 17968
Mr Doug Dickinson LIB-TAS 20000
Mr Duncan Andrews Liberal Party of Australia 25000
Mr Gregory Austin ALP-TAS 12500
Mr Gregory Austin Australian Labor Party (Tasmanian Branch) 12500
Mr Harold Mitchell Australian Labor Party (Victorian Branch) 15000
Mr Hugh Maclachlan Liberal Party of Australia 30000
Mr Hugh Maclachlan Liberal Party of Australia (S.A. Division) 14170
Mr Ian Wall Liberal Party of Australia (S.A. Division) 64065
Mr Ian Wall Liberal Party of Australia 55000
Mr JOHN CHARDON Liberal National Party of Queensland 19500
Mr John Grant LIB-FED 20000
Mr John Grant LIB-NSW 5000
Mr John Halikos CLP-NT 50000
Mr John Kaye GRN-NSW 20062
Mr John Uhrig LIB-SA – Andrew Southcott 5000
Mr John Uhrig LIB-SA – Christopher Pyne 5000
Mr John Uhrig LIB-SA – Matthew Williams 5000
Mr Leigh Clifford Liberal Party of Australia 15000
Mr Mark Gareth Creasy Liberal Party (W.A. Division) Inc. 34500
Mr Mark Gareth Creasy Australian Christians 9000
Mr Mark Gareth Creasy Australian Labor Party (ALP) 5000
Mr Mark Gareth Creasy National Party of Australia 3000
Mr Michael J Crouch Liberal Party of Australia 105000
Mr Michael J Crouch Liberal Party of Australia, NSW Division 23500
Mr Michael J Crouch Liberal Party of Australia (Victorian Division) 1500
Mr Michael J Crouch Liberal Party of Australia – Tasmanian Division 1100
Mr Norman Pater The Greens (WA) Inc 100000
Mr Paul Alafaci LNP-QLD 18000
Mr Paul Dainty Liberal Party of Australia 20000
Mr Paul Darrouzet LNP – FDC Dickson 5500
Mr Paul Darrouzet LNP – LNP Brisbane FDC 00260 5000
Mr Paul Darrouzet LNP – LNP Moreton FDC 2500
Mr Paul Darrouzet LNP – Team Quirk LNP 2000
Mr Paul Darrouzet LNP – Brisbane FDC 1000
Mr Paul Espie Liberal Party of Australia 105685
Mr Paul Espie Liberal Party of Australia, NSW Division 5750
Mr Paul Espie Liberal Party of Australia (S.A. Division) 2200
Mr Paul Franco Liberal National Party LNP-QLD (The Platinum Circle) 500
Mr Paul Ramsay Liberal Party of Australia 30550
Mr Paul Ramsay National Party of Australia 10000
Mr Paul Ramsay Liberal Party of Australia, NSW Division 2000
Mr Peter Edwards Australian Labor Party (Victorian Branch) 50000
Mr Peter Mason Liberal Party of Australia 17200
Mr Peter Mason Australian Labor Party (ALP) 1500
Mr Richard Cavill Liberal Party of Australia 25000
Mr Richard Penn Liberal Party of Australia 15000
Mr Richard Penn Liberal Party of Australia, NSW Division 750
Mr Robert G Gerard AO Sturt FEC – LIB-SA 10000
Mr Robert G Gerard AO Eden-Monaro FEC – LIB-NSW 5000
Mr Robert G Gerard AO Liberal Party of Australia – LIB 5000
Mr Robert G Gerard AO S Marshall – LIB-SA 500
Mr Robert de Roos Australian Labor Party (State of Queensland) 1500
Mr Scott Steven Liberal Party of Australia, NSW Division 1650
Mr Stuart Smith CEC 73000
Mr Vythlingam Tharmalingam LIB-VIC 13765
Mr Warren Malcolm The Secular Party of Australia 12500
Mr William Chiu ALP – NSW 50000
Mr and Mrs Raphael and Fiona Geminder Lib 20000
Mr and Ms Jeffrey and Janice Hardwick Country Liberals (Northern Territory) 20403
Mrs Eva Curran Liberal Party of Australia 21390
Mrs Eva Curran Liberal Party of Australia, NSW Division 5250
Mrs Heather Penn Liberal Party of Australia 15000
Mrs Heather Penn Liberal Party of Australia, NSW Division 750
Mrs Lynette Truss Liberal National Party of Queensland 1454
Mrs Pamela Wall Liberal Party of Australia (S.A. Division) 64065
Mrs Pamela Wall Liberal Party of Australia 55000
Mrs Roslyn Packer Liberal Party of Australia 580000
Mrs Roslyn Packer Liberal Party of Australia, NSW Division 400
Ms Anne Law ONA 14000
Ms Cate Faehrmann The Greens NSW 34654
Ms Jacintha Brown Rise Up Australia Party 50100
Ms Ruth Greble The Greens (WA) Inc 32650
Ms Ruth Greble Australian Greens 250
Ms Su Mon Wong LNP-QLD Brisbane FDC 1000
Mulloway Pty Ltd Liberal Party (W.A. Division) Inc. 75000
NATIONAL ROADS & MOTORISTS’ ASSOCIATION LIMITED Australian Labor Party (ALP) 20000
NATIONAL ROADS & MOTORISTS’ ASSOCIATION LIMITED National Party of Australia 11000
NATIONAL ROADS & MOTORISTS’ ASSOCIATION LIMITED Liberal Party of Australia 6600
NATIONAL ROADS & MOTORISTS’ ASSOCIATION LIMITED Australian Labor Party (N.S.W. Branch) 6400
NATIONAL ROADS & MOTORISTS’ ASSOCIATION LIMITED Liberal Party of Australia, NSW Division 5240
NEC IT Services Australia Pty Ltd Australian Labor Party (Northern Territory) Branch 30000
NSW Amateur Pistol Association Inc. Shooters and Fishers Party 40000
NT House Pty Ltd LIB-WA 100000
NT House Pty Ltd National Party of Australia 15000
National Australia Bank Limited Liberal Party of Australia 110000
National Australia Bank Limited Australian Labor Party (ALP) 56850
National Australia Bank Limited Liberal Party of Australia (Victorian Division) 16610
National Australia Bank Limited Liberal Party (W.A. Division) Inc 13300
New South Wales Minerals Council Ltd Liberal Party of Australia, NSW Division 41000
New South Wales Minerals Council Ltd Australian Labor Party (N.S.W. Branch) 14000
New South Wales Minerals Council Ltd Liberal National Party of Queensland 10000
New South Wales Minerals Council Ltd National Party of Australia – N.S.W. 3000
North West Constructions Pty Ltd Australian Labor Party (Northern Territory) Branch 24000
North West Constructions Pty Ltd Country Liberals (Northern Territory) 20000
Northern Star Resources Ltd Liberal Party (W.A. Division) Inc. 30000
Northern Star Resources Ltd National Party of Australia (WA) Inc 10000
Northpoint Pty Ltd Australian Labor Party (Northern Territory) Branch 12500
Northpoint Pty Ltd Country Liberals (Northern Territory) 12500
Northrock Pty Ltd Liberal Party (W.A. Division) Inc. 20000
Norwent 2 Pty Ltd Liberal Party of Australia, NSW Division 50000
Novartis Pharmaceuticals Australia Pty Limited ALP 36000
Novartis Pharmaceuticals Australia Pty Limited LIB 27500
Novartis Pharmaceuticals Australia Pty Limited LIB-NSW 12990
Novartis Pharmaceuticals Australia Pty Limited LNP-Qld 3000
Novartis Pharmaceuticals Australia Pty Limited ALP-QLD 2400
Novotel Sydney Olympic Park Liberal Party of Australia, NSW Division 27000
OGNIS Pty Ltd NSW Nationals – NAT-NSW 50000
Origin Energy LIB-FED 36785
Origin Energy LIB-SA 7200
Origin Energy ALP-QLD 6500
Origin Energy LIB-VIC 5740
Origin Energy LNP-QLD 5080
Origin Energy ALP-FED 3500
Origin Energy ALP-SA 2750
Origin Energy NAT-FED 500
PANORAMIC RESOURCES LIMITED Liberal Party of Australia 1601
PERRON GROUP TRUST Liberal Party (W.A. Division) Inc. 39000
PERRON GROUP TRUST Liberal Party of Australia 30000
Pacific Equity Partners Pty Limited ALP-FED 27500
Parsons Brinckerhoff Australia Pty Ltd Liberal Party of Australia, NSW Division 15000
Parsons Brinckerhoff Australia Pty Ltd Liberal Party of Australia 1500
Parsons Brinckerhoff Australia Pty Ltd Liberal Party of Australia (S.A. Division) 50
Pascalis Peter Zaparas Australian Labor Party (Victorian Branch) 25000
Paspaley Pearling Company Australian Labor Party (Northern Territory) Branch 25000
Paspaley Pearling Company Country Liberals (Northern Territory) 25000
Patersons Securities Limited Liberal Party (W.A. Division) Inc. 27750
Patersons Securities Limited Liberal Party of Australia – ACT Division 750
Personnel Contracting Pty Ltd Australian Christians – ACH 60000
Perth Airport Pty Ltd Liberal Party (W.A. Division) Inc. 26215
Perth Airport Pty Ltd Australian Labor Party (Western Australian Branch) 10100
Perth Airport Pty Ltd Australian Labor Party (ALP) 7080
Perth Airport Pty Ltd Liberal Party of Australia 1500
Pfizer Australia Pty Limited ALP-Federal 40450
Pfizer Australia Pty Limited Lib-Federal 32075
Pfizer Australia Pty Limited Nats-Federal 13368
Phebra Pty Ltd Liberal National Party of Queensland 20000
Philip Morris Limited Liberal Party of Australia 56000
Philip Morris Limited National Party of Australia 25880
Philip Morris Limited Liberal Party of Australia (S.A. Division) 16760
Philip Morris Limited Liberal Party (W.A. Division) Inc. 6000
Philip Morris Limited Liberal Party of Australia (Victorian Division) 2400
Pindan Pty Ltd AFT Chamois Unit Trust National Party of Australia (WA) Inc (NAT-WA) 27200
Pindan Pty Ltd AFT Chamois Unit Trust Perth Liberal Party (LIB-WA) 10000
Pratt Holdings P/L Liberal Party of Australia 250000
Pratt Holdings P/L Liberal Party of Australia, NSW Division 10000
Pricewaterhousecoopers Liberal Party of Australia – VIC Branch 19607
Pricewaterhousecoopers Australian Labor Party – NSW Branch 18170
Pricewaterhousecoopers Progressive Business Association – SA Branch 10785
Pricewaterhousecoopers Liberal Party of Australia – NSW Branch 6275
Pricewaterhousecoopers Liberal Party of Australia VIC Branch 4000
Pricewaterhousecoopers Liberal Party of Australia – QLD Branch 3800
Pricewaterhousecoopers Australian Labor Party – WA Branch 2607
Pricewaterhousecoopers Liberal Party of Australia – SA Branch 2566
Pricewaterhousecoopers Progressive Business Association – VIC Branch 1650
Pricewaterhousecoopers National Party of Australia – VIC Branch 1100
Property Council of Australia Limited Lib – Fed: Business Briefing Program 6600
Property Council of Australia Limited Lib – Fed: Annual Gala Dinner 4000
Property Council of Australia Limited ALP – Fed: Federal Budget Night Dinner 2500
Property Council of Australia Limited Lib – Qld: Tim Mander Dinner 2000
Property Council of Australia Limited Lib – ACT: Event at Parliament House 1900
Property Council of Australia Limited Lib – QLD: Queensland State Budget Lunch 1900
Property Council of Australia Limited Lib – QLD: Tim Mander/Bronwyn Bishop Dinner 1900
Property Council of Australia Limited Lib – VIC: Boardroom Policy Forum 1500
Property Council of Australia Limited Lib – VIC: Annual State Post Budget Breakfast 1275
Property Council of Australia Limited Lib – Qld: Federal Budget Reply Lunch 1100
Property Council of Australia Limited Lib – NSW: Federal Budget Reply Dinner 1000
Property Council of Australia Limited Lib – VIC: Budget Week Cocktail Party 1000
Property Council of Australia Limited Lib – NSW: Parramatta Campaign Launch Dinner 600
Property Council of Australia Limited Lib – NSW: 2013 Federal Budget Reply Dinner 500
Property Council of Australia Limited Lib – Vic: Budget Week Dinner at Parliament House 500
Property Council of Australia Limited Lib – WA: Lunch with Tony Abbott 450
Property Council of Australia Limited Lib – NSW: Cook 200 Club Annual Membership 350
Property Council of Australia Limited Lib – SA: SEC Twilight Gold Day 300
Property Council of Australia Limited ALP – VIC: Donation to ALP Victoria Branch 250
Property Council of Australia Limited Lib – SA: Auge Dinner 225
Property Council of Australia Limited Lib – VIC: Dinner celebrating 1992 Victory 200
Property Council of Australia Limited Lib – NSW: Federal Fundraising Dinner 150
Property Council of Australia Limited Lib – SA: Luncheon with Marshall & Kennett 150
Property Council of Australia Limited Lib – NSW: Tony Abbott Birthday Function 120
Property Council of Australia Limited Lib – SA: Leadership on the Couch 100
Property Council of Australia Limited Lib – WA: Campaign Raffle 100
Property Council of Australia Limited Lib – SA: Pyne 20th event 70
Property Council of Australia Limited Lib – NSW 50
Ramsay Health Care Limited Liberal Party of Australia 95000
Ramsay Health Care Limited National Party of Australia 5000
Randazzo C & G Development Pty Ltd Country Liberals (Northern Territory) 52000
Randazzo C & G Development Pty Ltd Australian Labor Party (Northern Territory) Branch 50000
Rebkin Pty Ltd Australian Labor Party (Western Australian Branch) 20000
Regional Express Holdings Ltd Australian Labor Party (ALP) 250000
Regional Express Holdings Ltd National Party of Australia 95700
Regional Express Holdings Ltd Liberal Party of Australia 40000
Registered Clubs Association of NSW (t/as ClubsNSW) LIB-ACT- Federal Secretariat 100000
Registered Clubs Association of NSW (t/as ClubsNSW) ALP-ACT – National Secretariat 69000
Registered Clubs Association of NSW (t/as ClubsNSW) LIB-NSW – Millennium Forum of New South Wales Federal Account 29600
Registered Clubs Association of NSW (t/as ClubsNSW) ALP-NSW 20000
Registered Clubs Association of NSW (t/as ClubsNSW) LIB-NSW – NSW Division 15500
Registered Clubs Association of NSW (t/as ClubsNSW) ALP-NSW – NSW Branch Federal Campaign Account 15000
Registered Clubs Association of NSW (t/as ClubsNSW) LIB-NSW – NSW Federal Campaign Account 10000
Registered Clubs Association of NSW (t/as ClubsNSW) NAT-NSW – National Party of Australia NSW 10000
Registered Clubs Association of NSW (t/as ClubsNSW) LIB-ACT – Federal Secretariat 6600
Registered Clubs Association of NSW (t/as ClubsNSW) LIB-NSW – Hughes FEC Federal Campaign 6500
Registered Clubs Association of NSW (t/as ClubsNSW) NAT-FED – National Party of Australia Federal Council 5940
Registered Clubs Association of NSW (t/as ClubsNSW) LNP-QLD – LIberal National Party QLD 5500
Registered Clubs Association of NSW (t/as ClubsNSW) LIB-NSW – LIberal Party of Aust. Paterson FEC 4000
Registered Clubs Association of NSW (t/as ClubsNSW) ALP-NSW – ALP McMahon Federal Campaign 3300
Registered Clubs Association of NSW (t/as ClubsNSW) ALP-NSW – Eden – Monaro Re – Election Campaign Federal Labor 3000
Registered Clubs Association of NSW (t/as ClubsNSW) ALP-NSW – NSW Branch Blaxland Federal Campaign 3000
Registered Clubs Association of NSW (t/as ClubsNSW) LIB-VIC – Liberal Party Melbourne Victorian Division 3000
Registered Clubs Association of NSW (t/as ClubsNSW) NAT-NSW – National Cowper Electorate Council 3000
Registered Clubs Association of NSW (t/as ClubsNSW) ALP-QLD – Queensland Party 2200
Registered Clubs Association of NSW (t/as ClubsNSW) LIB-TAS – Tasmanian Division 2200
Registered Clubs Association of NSW (t/as ClubsNSW) ALP- NSW – Hunter Federal Campaign 2000
Registered Clubs Association of NSW (t/as ClubsNSW) ALP-NSW – Fowler Federal Campaign Account 2000
Registered Clubs Association of NSW (t/as ClubsNSW) ALP-NSW – Lindsay FEC 1700
Registered Clubs Association of NSW (t/as ClubsNSW) LIB-VIC – Liberal Party Melbourne Vic 1500
Registered Clubs Association of NSW (t/as ClubsNSW) LIB-NSW – LIberal Party NSW Bradfield FEC 1000
Registered Clubs Association of NSW (t/as ClubsNSW) NAT-FED – National Party of Australia Federal Campaign 770
ResMed Limited LIB-NSW – Liberal Party of Australia NSW Division 14000
ResMed Limited LIB Liberal Party of Australia 11000
Restaurant and Catering Industry Association of Australia LIB-NSW 39302
Restaurant and Catering Industry Association of Australia LIB-VIC 1758
Restaurant and Catering Industry Association of Australia LIB-QLD 1600
Restaurant and Catering Industry Association of Australia LIB-SA 1100
Restaurant and Catering Industry Association of Australia LIB-WA 601
Retail Guild of Australia Inc Nationals (WA) 22331
Retail Guild of Australia Inc Nationals Federal 16500
Retail Guild of Australia Inc Nats (WA) 16340
Retail Guild of Australia Inc LNP 13200
Retail Guild of Australia Inc Nationals (Fed) 13190
Retail Guild of Australia Inc Liberal Party (Fed) 11000
Retail Guild of Australia Inc Christopher Pyne (Lib Fed) 10000
Retail Guild of Australia Inc Dunkley FEC (Libs Fed) 10000
Retail Guild of Australia Inc Fairfax FDC (Libs Fed) 10000
Retail Guild of Australia Inc ALP (ACT) 6125
Retail Guild of Australia Inc National Party (Fed) 5940
Retail Guild of Australia Inc Casey Fed Election Conference (LIB) 5500
Retail Guild of Australia Inc ALP (WA) 5200
Retail Guild of Australia Inc Eden Monaro FEC (Lib Fed) 5000
Retail Guild of Australia Inc Nationals (NSW Fed a/c) 4000
Retail Guild of Australia Inc Enterprise 500 (Vic Lib) 3500
Retail Guild of Australia Inc ALP (FED) 2650
Retail Guild of Australia Inc Casey FEC (Libs Fed) 2000
Retail Guild of Australia Inc R Sutton (Nats WA) 2000
Retail Guild of Australia Inc Kooyong 200 1300
Retail Guild of Australia Inc Higgins Electorate (Fed Lib) 1100
Retail Guild of Australia Inc Nationals (Vic) 1100
Retail Guild of Australia Inc Dunkley Fec (Fed Lib) 1000
Rohanna Pty Ltd as trustee for the Skippers Unit Trust Liberal Party (W.A. Division) Inc. 18090
Rusca Bros Mining Pty Ltd Country Liberals (Northern Territory) 50000
Rusca Bros Mining Pty Ltd Australian Labor Party (Northern Territory) Branch 15000
Sandfire Resources NL Liberal Party (W.A. Division) Inc. 45000
Santos Limited ALP-FED 50829
Santos Limited LIB-SA 34367
Santos Limited ALP-SA 18590
Santos Limited LNP-QLD 18303
Santos Limited LIB-FED 12950
Santos Limited NAT-FED 10030
Santos Limited LIB-WA 5910
Santos Limited ALP-NT 5000
Santos Limited ALP-QLD 3300
Santos Limited ALP-WA 2550
Santos Limited LIB-TAS 2500
Santos Limited LIB-SA – Sturt FEC 1000
Santos Limited LIB-NSW 500
Schaffer Corporation Limited LIB-WA 47500
Senator Lee Rhiannon The Greens NSW 23918
Servcorp Administration Pty Ltd Liberal Party of Australia 16000
Servcorp Administration Pty Ltd Liberal Party of Australia, NSW Division 12200
Seth Pty Ltd Trading as Chin & Associates NT QLD CLP-NT 20000
Seven West Media Limited National Party of Australia 14740
Seven West Media Limited Liberal Party of Australia, NSW Division 10500
Seven West Media Limited Liberal Party of Australia 9100
Seven West Media Limited Australian Labor Party (ALP) 5650
Seven West Media Limited Australian Labor Party (South Australian Branch) 5000
Seven West Media Limited Liberal Party of Australia (S.A. Division) 2610
Seven West Media Limited Australian Labor Party (Victorian Branch) 1500
Sitzler Pty Ltd Country Liberals (Northern Territory) 17000
Sixmilebridge Pty Limited Liberal Party of Australia Lib-Fed 65000
Sixmilebridge Pty Limited Mackellar Business Forum (Liberal Party) 7000
Sixmilebridge Pty Limited New England FRC Nat-Fed 3000
Southern Quarries Pty Ltd Australian Labor Party (South Australian Branch) 25000
Southern Quarries Pty Ltd Liberal Party of Australia (S.A. Division) 23000
Southern Quarries Pty Ltd Liberal Party of Australia 5500
Sovori Pty Ltd Liberal Party of Australia 50000
Sovori Pty Ltd Liberal Party of Australia, NSW Division 26000
Sporting Shooters Association of Australia (Queensland) Katter’s Australian Party 100000
Springfield Land Corporation ATF Springfield Development Trust Australian Labor Party (State of Queensland) 63250
Springfield Land Corporation ATF Springfield Development Trust Liberal National Party of Queensland 21200
Steve Nolan Constructions P/L Liberal Party of Australia, NSW Division 150000
Steve Nolan Constructions P/L Liberal Party of Australia 50000
Sub Divide Pty Ltd LNP QLD 25000
Suncorp Group Limited Liberal Party of Australia, NSW Division 23500
Suncorp Group Limited Australian Labor Party (State of Queensland) 2000
Suncorp Group Limited National Party of Australia 1210
Sundance Resources Australian Labor Party (Western Australian Branch) 2000
Swick Mining Services Liberal Party of Australia 21364
Talrile Property Trust Liberal National Party of Queensland 30000
Tarcila Resources Pty Ltd Australian Labor Party (South Australian Branch) 30000
Tarcila Resources Pty Ltd Liberal Party of Australia (S.A. Division) 28000
Tarcila Resources Pty Ltd Australian Labor Party (Western Australian Branch) 3500
Technology One Limited Liberal National Party of Queensland 18400
Technology One Limited Liberal Party of Australia – Tasmanian Division 2900
Terrace Properties & Investments Pty Ltd Liberal Party (W.A. Division) Inc. 23000
The Eros Association Australian Sex Party 232089
The Gandel Group Pty Ltd Australian Labor Party – Isaacs 10000
The Gandel Group Pty Ltd Enterprise 500 Victoria 10000
The Gandel Group Pty Ltd Liberal Party of Australia (Vic Div) Kooyong 200 Club 10000
The Gandel Group Pty Ltd Australian Labor Party – Eden Monaro Federal Campaign 5000
The Gandel Group Pty Ltd Australian Labor Party – National Secretariat 1100
The Griffin Coal Mining Company Pty Ltd Liberal Party (W.A. Division) Inc. 44000
The Mantle Family Trust LNP QLD 16500
The Pharmacy Guild of Australia ALP-FED 41500
The Pharmacy Guild of Australia LIB-VIC 36635
The Pharmacy Guild of Australia LIB-FED 31600
The Pharmacy Guild of Australia NAT-FED 24870
The Pharmacy Guild of Australia ALP-VIC 23520
The Pharmacy Guild of Australia LIB-NSW 14830
The Sun Foundation Australian Labor Party (ALP) 25000
Transcontinental Group Liberal Party of Australia 15000
Transfield Services Limited Liberal Party of Australia 220
Trepang Services Liberal Party of Australia 100000
Trepang Services Australian Labor Party (Northern Territory) Branch 50000
Unions NSW ALP NSW Branch 150482
Unions NSW ALP National Secretariat 5500
Unions NSW ALP NSW Branch – Deb O’Neill 3000
Unions NSW ALP NSW Branch – Anthony Albanese 2200
Unions NSW ALP NSW Branch – Chris Hayes 2000
Unions NSW ALP NSW Branch – Tanya Plibersek 2000
Unions NSW ALP NSW Branch – Susan Templeman 1600
Unions NSW ALP NSW Branch – Jason Clare 1500
Unions NSW ALP NSW Branch – Sen. Matt Thistlethwaite 1000
Unions NSW ALP NSW Branch – Tony Burke 1000
Unions NSW ALP NSW Branch – Dinner with P.M. 990
Unions NSW ALP NSW Branch – David Bradbury 900
Unions NSW ALP NSW Branch – Christina Keneally Dinner 700
Unions NSW ALP NSW Branch – Laurie Ferguson 700
Unions NSW ALP NSW Branch – Sub. Cont. Friends of Labour 600
Unions NSW ALP NSW Branch – McKell Dinner 500
United Petroleum Pty Ltd LIB-VIC 15000
Universal Trade Pty Ltd Liberal Party of Australia, NSW Division 15000
Vector Resources Limited Liberal Party of WA 12500
Vector Resources Limited Liberal Party of Australia (WA Division) 150
Verona Capital Ltd Liberal Party (W.A. Division) Inc. 30000
Village Roadshow Film Administration Management Pty Ltd Liberal Party of Australia (VIC Division) (paid to Enterprise 50 50000
Village Roadshow Limited Liberal Party of Australia (Federal Secretariat) 120000
Village Roadshow Limited Liberal Party of Australia (VIC Division) (paid to Enterprise 50 109500
Village Roadshow Limited Liberal Party of Australia (VIC Division) 35504
Village Roadshow Limited Australian Labor Party (National Secretariat) 22000
Virtual Genius Pty Ltd Liberal Party (W.A. Division) Inc. 100000
Visa AP (Australia) Pty Ltd Australian Labor Party (ALP) 139000
Visa AP (Australia) Pty Ltd Liberal Party of Australia 76390
Visa AP (Australia) Pty Ltd Australian Labor Party (N.S.W. Branch) 5000
Visa AP (Australia) Pty Ltd Liberal Party of Australia, NSW Division 1500
Visa AP (Australia) Pty Ltd National Party of Australia 550
Viterra Ltd Liberal Party of Australia 150000
Viterra Ltd National Party of Australia 50000
Washington H Soul Pattinson and Company Limited Liberal Party of Australia 250000
Washington H Soul Pattinson and Company Limited Liberal National Party of Queensland 1900
Wei Wah International Trading Pty Ltd ALP NSW 200000
Wembley Lakes Estates Two Pty Ltd Liberal Party of Australia (WA Div) Inc – LIB-WA 25000
Western Areas NL Liberal Party (W.A. Division) Inc. 20000
Westfield Group ALP- Australian Labor Party 152000
Westfield Group LIB – Liberal Party of Australia 150000
Westfield Group LIB-VIC – Liberal Party of Australia (Victorian Division) 10000
Westfield Group ALP-QLD – Australian Labor Party (State of Queensland) 5000
Westfield Group ALP-WA – Australian Labor Party (Western Australian Branch) 5000
Westfield Group LIB-WA – Liberal Party (W.A. Division) Inc. 5000
Westfield Group ALP-VIC – Australian Labor Party (Victorian Branch) 2100
Westpac Banking Corporation Australian Labor Party (ALP) 69450
Westpac Banking Corporation Liberal Party of Australia 24537
Westpac Banking Corporation Liberal Party of Australia (Victorian Division) 21100
Westpac Banking Corporation Liberal National Party of Queensland 15500
Westpac Banking Corporation National Party of Australia 15400
Westpac Banking Corporation Australian Labor Party (Victorian Branch) 13200
Westpac Banking Corporation Australian Labor Party (South Australian Branch) 13130
Westpac Banking Corporation Liberal Party (W.A. Division) Inc. 5000
Westpac Banking Corporation Australian Labor Party (Tasmanian Branch) 3500
Westpac Banking Corporation Liberal Party of Australia (S.A. Division) 2640
Westpac Banking Corporation National Party of Australia – N.S.W. 1950
Westpac Banking Corporation Liberal Party of Australia – ACT Division 1050
Westpac Banking Corporation Liberal Party of Australia – Tasmanian Division 850
Westpac Banking Corporation Australian Labor Party (ACT Branch) 750
Westpac Banking Corporation Australian Labor Party (Western Australian Branch) 150
White Internet Pty Limited Liberal NSW – John Howard Fundraiser The Westin 17500
Willimbury Pty Limited Liberal Party of Australia 61000
Willimbury Pty Limited Mackellar Business Forum – LIB 7000
Willimbury Pty Limited National Party 3000
Wilmar Sugar Pty Limited Liberal Party of Australia – Tasmanian Division 9900
Wilmar Sugar Pty Limited Liberal Party of Australia 5000
Wilmar Sugar Pty Limited Liberal Party of Australia (Victorian Division) 750
Win Kwong Pty Ltd Australian Labor Party (State of Queensland) 15000
Woodside Energy Limited Liberal Party of Australia 120000
Woodside Energy Limited Australian Labor Party (ALP) 110000
Woodside Energy Limited Liberal Party (W.A. Division) Inc. 61150
Woodside Energy Limited Australian Labor Party (Western Australian Branch) 50000
Woodside Energy Limited National Party of Australia (WA) Inc 27000
Woodside Energy Limited National Party of Australia 5940
Woolworths Limited Australian Labor Party (ALP) 50950
Woolworths Limited Liberal Party of Australia 30600
Woolworths Limited National Party of Australia 16800
Woolworths Limited Liberal Party of Australia (Victorian Division) 8000
Woolworths Limited Liberal Party (W.A. Division) Inc. 5500
Woolworths Limited Liberal National Party of Queensland 3925
Woolworths Limited National Party of Australia – Victoria 110
Wyllie Group Pty Ltd Liberal Party (W.A. Division) Inc. 20000
Yuhu Group (Australia) Pty Ltd ALP NSW 100000

 

 

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Article at The Drum on tax and dividend carbon pricing

Carbon price round two: let’s get it right this time

Originally published at ABC’s The Drum

Posted Fri 29 Aug 2014

A tax and dividend system to tackle climate change could solve the current policy void and quickly transform the industry while not making individuals worse off, writes Warwick Smith.

There is a silver lining to the abolition of Australia’s carbon price: the opportunity to do a better job when, inevitably, a new pricing system is established.

Australian businesses expect a carbon price will be back in Australia in the not-too-distant future. Given the rapidly mounting evidence of climate change impacts already occurring, the policy void of the Abbott Government must eventually be replaced with meaningful climate action.

So, what was wrong with the old carbon price? The main problems were to do with complexity, coverage and price. The usual rent-seekers got into the government’s ear and secured overly generous compensation or exemption.

Then there was the compensation for households that never seemed particularly transparent. Add to this the federal government’s establishment of the Clean Energy Finance Corporation that combined with the Australian Renewable Energy Agency and the Renewable Energy Target to create an unnecessarily complex policy mess.

The idea of a price signal is that it causes behavioural change that leads to fewer emissions. The reason we needed to subsidise renewable energy is because the price wasn’t high enough to achieve a sufficiently rapid switch to low carbon energy production.

Indeed, had the scheme remained in place, the price would have fallen substantially. Our emissions trading scheme that was scheduled to take over from the tax would align the price with the European trading scheme where the price has been hovering about $AU10 per tonne. A much higher price is required to produce the deep emission reductions necessary to prevent the worst future impacts of climate change.

There has been very little debate about carbon pricing alternatives in Australia. We had a tax that was going to transition to a trading scheme but even the relative merits of these two options has received little attention.

There’s another alternative that is often referred to as a tax and dividend system (or fee and dividend if you think tax is a dirty word).

The idea is pretty simple, you set a tax rate, say $10 per tonne CO2e, which climbs by $10 each year for maybe 10 years. This tax is charged on all fossil fuels (and other emissions wherever practical), and then you give all of that money back to households. The tax could be rebated at the border for exports.

The result is a significant price rise in commodities that are greenhouse gas intensive but also a significant rise in income for all Australians. People will be able to continue to live exactly the way they were if they so choose and be no worse off. However, if they make consumption decisions that reduce their emissions they will be substantially better off, particularly if they are ahead of the pack.

Such a system would quickly result in a price high enough for renewable energy to outcompete fossil fuel energy. This won’t mean the immediate death of coal and gas because we simply don’t have the capacity to replace it that quickly. However, it does guarantee that new renewable projects will have a market and the genuine and rapid transition to a fully renewable energy sector will begin.

Job losses will occur in sectors no longer competitive but job losses accompany all change and progress. Losing employment can, of course, be tragic for individuals but the reality is that jobs come and go in modern economies at an astonishing rate and we must not use this as an excuse to not take action to prevent climate change. Many jobs will be created in the new low carbon economy as the transition occurs.

Alarm bells are ringing everywhere with respect to climate change. Recent observations of craters in Siberia and methane bubbles reaching the surface in the Arctic ocean are indications that some of the more catastrophic climate scenarios may come to pass. If we are to take the evidence seriously, we must take action that inspires quite rapid and radical change. A tax and dividend system for carbon pricing has the potential to achieve this with relatively little pain for the broader population.

The truth is that we should all be willing to pay a significant price in order to protect the biosphere from the worst of the impacts of climate change.

The reality though is that many people are too short-sighted to make those sacrifices now. The appeal of a tax and dividend approach to carbon pricing is obvious enough in this political and social climate.

We can implement a high enough price on carbon to prompt serious economic transformation while genuinely telling people they won’t be worse off as individuals.

Warwick Smith is an environmental economist at the University of Melbourne. He blogs at reconstructingeconomics.com and tweets @RecoEco. View his full profile here.

Posted in Australian politics, climate change, tax economics | Tagged , , , , , | Leave a comment

The Guardian – Why politicians must lie by Warwick Smith

Why politicians must lie – and how selling ice creams is like an election campaign

By Warwick Smith

Few expect politicians to tell the truth and few are particularly surprised or affected when lies are exposed. Why is this the universal experience of politics in most developed democracies? It turns out the answer is related to ice cream.

How selling ice creams is like an election campaign

Imagine you’re looking to set up an ice cream stall on a beach. There is already one ice cream stall on this beach and, sensibly, they have set up right in the middle (Figure 1).

figure 1
figure 1

Where is the best place to set up your new ice-cream stall? Most people’s intuitive answer is to suggest setting up at either A or B in Figure 2.

figure 2
figure 2

Assuming both stalls sell the same thing for the same price and people will simply buy from the closest stall, if you select location A or B, your share of the market will be 3/8, as illustrated in Figure 3.

figure 3
figure 3

However, if you set up as close to the existing stall as possible, your share of the market will be very close to one half (Figure 4).

fig 4
fig 4

This is in fact a classic example used in undergraduate economics textbooks illustrating the process for deciding the optimal location for a new retail outlet. But it’s also a perfect analogy for modern democratic politics if we substitute the beach for some measure of political spectrum such as left/right or authoritarian/libertarian.

When we plot this for US presidential elections, what happens?

political compass
Political Compass graph of the 2012 presidential elections.

I’m using graphs from Political Compass for this comparison but it doesn’t really matter which measures of political orientation you use you get similar results. See where Barack Obama and Mitt Romney are? It’s just like the two ice cream stalls on the beach. How about the Australian federal election in 2013?

Political Compass graph of the parties running in the 2013 Australian federal elections.
Political Compass graph of the parties running in the 2013 Australian federal elections. Photograph: /warwick smith

The two major contenders, Labor and the Liberal/National coalition, sit almost as disturbingly close on the graph as the Democrat and Republican presidential candidates. The UK is barely different.

Most politicians enter politics for ideological reasons. They want to contribute and make the country a better place (by whatever measures they see as important). However, the primary game of politics in a democracy is one of vote winning. You can’t implement your policies if you’re not elected and once elected the most important thing is to be re-elected so that you can continue your work improving the country. As a result, many politicians make this Faustian bargain; they sell their soul in order to prolong their political careers. They know that the best place to set up their ice cream stall is right beside their political opponent, with just enough differences to identify them with the one side or other of the spectrum.

They face the choice of openly and honestly standing up for what they believe or maximising their vote. To put it bluntly, they either lie or they lose.

The federal election of 2013 in my home country of Australia was a perfect example of this new era of political strategy. During this election campaign there was an unprecedented proliferation of fact checking units and web sites monitoring and reporting on the validity of politicians’ claims. The rate at which these fact checkers were pouring out verdicts indicating that politicians of both major parties were lying and exaggerating their way through the campaign was remarkable. Even more remarkable was how many of the false statements continued to be repeated after they were exposed.

Now that the Coalition are in government the lies haven’t stopped. In fact, I think it’s reasonable to conclude that the coalition government are using lies and exaggeration to justify the overwhelming majority of their agenda in which they are breaking many popular pre-election promises.

So, we know The Australian government lied its way into power. We know the now Labor opposition tried to lie their way into keeping power. We know that the government is lying in order to cover up its real policy agenda. Yet, knowing all of this changes nothing.

This contempt for voters and for democracy more generally is a predictable product of the conflicting pressures politicians face.

This framework for thinking about political strategy gets sophisticated enough to explain the rise of the tea party (in various forms in many countries) when we add two more considerations: preselection – or primaries as they’re known in the US; and campaign funding.

Preselection is the process whereby the parties select their candidates to run in elections. In the US, let’s imagine the values of voters along a particular political spectrum are as shown in Figure 8.

fig 8
fig 8

When running in primaries, the same driving forces are going to apply as above. The most effective strategy for Republican candidates will be to cluster around the red dot. However, the red dot is a long way from the centre of the spectrum where that candidate will need to place themselves in order to compete against their opposition Democrat candidate in the election. Thus the well-known phenomenon of primary candidates espousing extreme views, with the winning candidate having to frantically tack back to the centre once they are the only one left standing.

The tea party represents the backfiring of this strategy, where grassroots members are preselecting candidates who aren’t interested in moving back to the centre. The distance from the middle of the political spectrum leaves many tea party candidates unelectable outside of religious conservative stronghold electorates and absolutely unelectable as president even though they may one day win primaries. However, their very presence in elections allows their opponents to shift further to the right without penalty, thus potentially shifting the entire politics of the country in that direction. The Republican Party may lose, but democracy may lose even more as a growing number of people find themselves without candidates who represent their views.

This backlash is not limited to the US. The rise of ultra-right politics in Europe and the rise of the Greens in Australia and elsewhere are largely a result of the same phenomenon. Major parties positioning themselves side by side on the political spectrum opens up a lot of territory for other parties to move into. However, for Australia at least, preferential voting systems will see the majority of votes ultimately returning to the parties in the centre, making the strategy sustainable.

This framework explains many of the lies told by both major parties in the Australian federal election in 2013. Tony Abbott’s coalition government have won power through four principle strategies:

1) Exaggerate or lie about the record of the government they were trying to replace.

2) Make promises to the electorate they knew they wouldn’t keep (given the evidence of the Budget).

3) Make promises to corporate donors they intended to keep.

4) Excuse breaking the promises to the electorate by inventing a budget and debt crisis.

These strategies have allowed them to appear to be all things to all people while actually delivering to their corporate backers. The reality is that it’s much harder to justify to a corporate donor why you haven’t given them value for money than it is to a voter as to why you haven’t done what you said you were going to do. In a system where all the major contenders stretch the truth, lying isn’t that much of an electoral liability.

“Everybody sees what you appear to be, few feel what you are.” – Machiavelli writing to the prince

This model for thinking about political power in our democracies is far from complete. Social structures and organisations as well as solidarity among elites also play a huge role. However, what is presented here is enough to explain why politicians lie and why, in many instances they have no choice but to do so. The honest ones are highly unlikely to succeed in forming government.

Posted in Australian politics, Political philosophy | Tagged , , , | Leave a comment

Guardian article on infrastructure funding

This article was originally published in The Guardian Australia.

How to make Australian infrastructure pay for itself – with no selloffs, and no tricks

‘Asset recycling’, as an approach to infrastructure investment, will only end up benefiting the banks. Taxing land is a more sustainable way forward

By Warwick Smith

tram

‘The uplift in land values that result from new transport infrastructure is literally a measure of how much the public values the improvements.’ Photograph: flickr

The federal government is offering state governments a sweetener if they sell public assets to fund the building of new infrastructure: for every dollar the states make on the sale, the federal government will give them 15 cents. On the surface it looks like a good deal for the states but it’s an approach to infrastructure funding that rejects all subtlety and evidence. Some public assets should stay in public hands and offering broad brush incentives to offload assets distorts calculations about the public benefit.

It’s tempting to call the federal government’s “asset recycling initiative” another example of their small government ideology, which is usually just cover for private rent seekers who want to pillage the public purse. When in doubt, follow the money. So who benefits from the privatisation of public assets?

The obvious answer is the buyer. Such assets will only be purchased if they stand to make a return. However, the biggest winners when multiple asset sales are considered are the banks. Privatised assets are almost always bought with borrowed money. So, while individual companies or consortia might benefit from the purchase of a government asset, it’s the banks and other lenders who benefit from a culture of privatisation.

Not only do buyers need to make a decent return on asset purchases but they also have to pay interest to the banks. This means that when an asset is privatised it’s the banks who are supplying the money and it is the public who are ultimately paying the interest; either through a lower sale price of the asset, through the increased cost of the services or through reduced services. This is something that usually slips under the radar in commentary on privatisation.

The strategy generally employed by the buyer of public assets is to privatise the profits and shift costs onto the public. It’s easy enough to make a public transport system more profitable. You reduce or eliminate unprofitable routes. The company increases profits and the public pays the price through reduced services. This means that the government has to write a very careful set of regulations in an attempt to guarantee service provision. The private owner’s lawyers go through these regulations with a fine-tooth comb in search of loopholes to exploit in the name of “efficiency”.

Similarly, we see in the electricity sector the much-reported “gold plating” of the transmission network. In an effort to ensure that the privatised networks didn’t fall into disrepair, governments guaranteed returns on network expenditure (which are recouped from us through increased charges). The result is that the electricity generators and distributors have overspent on network infrastructure – poles and wires – in order to cash in on this guaranteed return. This has driven up prices far, far more than the carbon tax did. Customers have no choice but to pay, as they cannot buy from a different transmission network.

It’s important to understand that these companies’ first interest is not in the efficient and effective supply of electricity. They just want profit. If they can most easily maximise profits by being good providers of a service that’s what they’ll do but, in this case, it’s easier to exploit loopholes in the regulations. It’s very difficult to write regulations that are watertight when it comes to these sorts of asset sales.

There are plenty of sound ways to fund infrastructure, but land taxes are the best and also the least likely to be used – because the financial industry, and in particular, the big four banks, would hate it. Taxes that capture uplift in land values (sometimes called betterment taxes) can be effectively used to recoup spending on a lot of public infrastructure. Most good public infrastructure projects lift land values for properties that the infrastructure serves.

For well prioritised projects, this uplift in land value is well in excess of the cost of the infrastructure. By prioritising transport projects based on projected land price rises, and taxing enough of that rise, we could have rolling infrastructure programs that pay for themselves. The uplift in land values that result from new transport infrastructure is literally a measure of how much the public values the improvements – and is therefore a great way to prioritise efforts. Of course, government should also remain open to providing infrastructure for social justice reasons that may not fit into this model.

If we could have fantastic public transport in our major cities that pays for itself, why aren’t we already doing it? There are three major hurdles to implementing greater use of land taxes: the banks, the real estate industry and property investors. The first two are very powerful political lobby groups and very generous political donors, and the last is quite a large voting bloc.

In the lead up to the 2013 federal election, the financial industry gave more money to the Coalition than any other industry. Profit making corporations do not give their money away for nothing. Though rarely explicitly admitted by those involved, there is an understanding that corporate political donations buy access and favourable treatment in policy development and legislation. Why else would for-profit organisations make such donations? Is it any wonder that no action taken by the Abbott government has been inconsistent with the interests of the financial sector?

Using land taxes to recoup infrastructure spending would be a double blow to the banks. Firstly, as stated above, it would deny them the new markets opened up by privatising government assets. Additionally, broadly implemented land taxes, as recommended by the Henry Tax Review, would reduce speculation on land prices (the buying of land on the expectation its value will rise), thus lowering prices in the long term and reducing the size of loans needed to buy property.

That the banks are the principal beneficiaries of ever-climbing housing prices is yet another largely overlooked fact. The more banks can lend people to buy houses, the more expensive real estate gets, the more money banks get to lend and the more profit they make. It’s a beautiful self-perpetuating gravy train.

Politicians feign concern about housing affordability and how hard it is for first home buyers to get into the market but they don’t enact any of the policy measures that we know would improve affordability for fear of upsetting the financial industry, the real estate industry and all the “mum and dad” property investors who’ve been lured into real estate by distortionary government policies like negative gearing and concessional treatment of capital gains (both of which are effectively corporate welfare for the banks).

However, the ACT government is leading the way to reform. They are slowly and incrementally replacing inefficient and unreliable stamp duties with land taxes. This will not help much with infrastructure, as the rates are too low, but it’s a little step in the right direction that should open the way for broader acceptance of land taxes as an efficient and socially beneficial way to collect government revenue. After that, maybe we can work towards our infrastructure utopia. Rome’s aqueducts weren’t built in a day.

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