This governments cry for deregulation of the financial industry is going to achieve exactly what multi nationals want and what 1%ers would like a gold rush of opportunity but only for those at the top.
Abbott’s coalition are either fully aware of what they are doing or under the misguided belief in a trickle down effect that will benefit all. Bullshit there’s more generosity at the the middle and lower end of the social hierachy than there is at the top.
Immigration regulations have been increased to such that assylum seekers have been disappeared they no longer exist. Scott Morrison has no information on anything, his dept employs 90 spin doctors, media managers who don’t only watch his words but scrutinizes ours throughout the social media. Comic to the extreme we have a bigger Immigration Dept doing more things about nothing. Transparacy is not required because there’s nothing to be transparant about, just ask a spin doc…..er….spokesperson.
Deregulation however is only one side of the coin. More regulation is the other. Kevin Andrews wants more Welfare. He wants want’s to micro-manage what individual recipients recieve and what they can and can’t spend with their payments . The very nature of this magnified state control starts to smack of the most extreme facism.
Corporate trustees are given virtual carte blanche to administer, invest and disburse the money in charitable trusts, and critics say they charge whatever fees they deem appropriate. Yet as calls mount for greater regulation of the sector, the government is moving to axe the watchdog. Sarah Dingle
Yep the Charity Watchdog is to be axed and the industry to self regulate. Money left in wills for charities is a ‘rivers of gold’ situation for corporate trustees, who are entitled to administer the money in perpetuity. Corporate trustees administering a fund for the Childrens Hospital have diminished it’s capital over the past 5 years by about $20mill in those 5 years the Corporate trustee took $2mill in fees. By comparison, the Children Hospital’s own self managed foundation managed to grow it’s capital by 10 per cent and distribute $80 million to the hospital in the same timeframe. 90% of these corporate trustees have $3.5bill are under the sole management. Currently they can be the trustee, the investor, the administrator and the disburser of the funds, and they don’t have to show that all those charges are fair and reasonable,’’Rivers of Gold”. Andrews wants to axe the ACNC and handball the fee gouging issues to the States. Charities Commissioner Susan Pascoe says State regulation is non existing. In WA there is no cap on fees that can be charged. These Corporate trustees apply the same fee structures to the trusts of disabled, mentally impaired across the board. Andrews isn’t saving money he’s handing the problem over to the states were no protective structures exist.
The Dept of Trade and Froreign Affaire is in secret TPP trade negotiation revealed by WIKI leaks which demand deregulation to open up the freer market for Multinational corporations . Yes but not for the interests of all of us. Australian bank regulations which saved us from the GFC pain that Europe & the US experienced are going to be loosened up. It was deregulation of the financial markets that caused the GFC in the first place. This government wants to remove our safety net & say we are “open for business”. The flip side is that we the consumers are to be effected by the new TPP agreements . We will pay more for drugs and medicines, movies, computer games and software, IT and be placed under surveillance as part of a US-led crackdown on internet piracy. ”One could see the TPP as a Christmas wish list for major corporations, enriching them and their investors but of no help those in the middle, let alone those at the bottom. Goods will become more expensive, pharmaceuticals, IT, software, entertainment, food packaging, among other things will go up. The belief that economic growth is the key to benefit for all is a myth. This governments ear is only open to those guaranteed to win putting the bulk of the population at greater risk. Those 10% at the top will make more money and be overcompensated for the price rises and the other 90% gouged.